Bill Text: IN HB1203 | 2012 | Regular Session | Introduced
Bill Title: Riverboat gaming adjusted gross receipts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-09 - First reading: referred to Committee on Public Policy [HB1203 Detail]
Download: Indiana-2012-HB1203-Introduced.html
Citations Affected: IC 4-33-2-2.
Synopsis: Riverboat gaming adjusted gross receipts. Requires that
wagers made by riverboat patrons using noncashable vouchers,
coupons, electronic credits, or electronic promotions provided by a
licensee or operating agent be subtracted from the amounts received
from gaming operations by the licensee or operating agent when
calculating the adjusted gross receipts of the licensee or operating
agent. (Under current law, cash paid out as winnings to patrons and a
limited amount of uncollectible receivables are subtracted from the
amounts received from gaming operations.)
Effective: July 1, 2012.
January 9, 2012, read first time and referred to Committee on Public Policy.
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A BILL FOR AN ACT to amend the Indiana Code concerning
gaming.
(1) the total of all cash and property (including checks received by a licensee or an operating agent), whether collected or not, received by a licensee or an operating agent from gaming operations; minus
(2) the total of:
(A) all cash paid out as winnings to patrons; and
(B) uncollectible gaming receivables, not to exceed the lesser of:
(i) a reasonable provision for uncollectible patron checks received from gaming operations; or
(ii) two percent (2%) of the total of all sums, including checks, whether collected or not, less the amount paid out as winnings to patrons.
For purposes of this
(b) With respect to gaming operations conducted after June 30, 2012, "adjusted gross receipts" means:
(1) the total of all cash and property (including checks received by a licensee or an operating agent), whether collected or not, received by a licensee or an operating agent from gaming operations; minus
(2) the sum of the following:
(A) The total amount of cash paid out as winnings to patrons.
(B) The total dollar amount of wagers made by a riverboat's patrons using noncashable vouchers, coupons, electronic credits, or electronic promotions provided by the licensee or operating agent.
(C) The amount of uncollectible gaming receivables, not to exceed the lesser of:
(i) a reasonable provision for uncollectible patron checks received from gaming operations; or
(ii) two percent (2%) of the total of all sums, including checks, whether collected or not, less the amount paid out as winnings to patrons.
For purposes of this subsection, a counter or personal check that is invalid or unenforceable under this article is considered cash received by the licensee or operating agent from gaming operations.
