April, 2017

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Posted by: | Posted on: April 17, 2017

Proposed Bill Would Reel in Cash for the State

On March 29, 2007, with the promise of a potential cash windfall intended for tax relief, the state senate in Indiana voted 27-21 last Thursday to permit slot machines at 2 horse racing tracks in Indiana.

House Bill 1835, which was advertised by its supporters as the answer to the dwindling customers at the racing tracks, would permit the Hoosier Park in Anderson and the Indiana Downs in Shelbyville to shell out $400 million for the licensing fee, which will allow them to put up around 1,500 slot machines.

Lawmakers are considering the potential money source as the long awaited answer for a property tax relief plan and the suggestion to sponsor research money grants intended for the scientific industries in the state. The scientific goal was a part of Gov. Mitch Daniel’s plans to put the Hoosier Lottery on the lease that has been languishing in the Indiana House, which was primarily controlled by Democrats.

House Bill 1835, which will be sent back to the House of Representatives, will also allow the Majestic Casino to keep their own options open to relocate in the city of Gary. Majestic Casino owner, Don Barden, has also related the option to the city leaders.

He cannot take his casino licenses outside of Gary unless he convinces the lawmakers to modify the state law. The law will also permit riverboat casino from the regulation that they should always maintain a working riverboat engine, which can allow the company to save some money and reduce employees.