A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Plain English Breakdown

The bill summary and digest do not provide detailed information about the exact impact on riverboat casinos or how the Lake County Convention Center Authority will operate after establishment.

Changes to Taxation for Riverboats in Gary

This bill changes how supplemental wagering taxes are paid and distributed to riverboat casinos in Gary, legalizes certain financial documents issued by authorities related to the Lake County Convention Center before February 28, 2026, sets rules for when the authority is formed, and specifies that only Indiana residents can be on the authority board.

What This Bill Does

• Changes how much supplemental wagering tax the state treasurer pays to each riverboat operating in Gary.
• Alters how gambling taxes are shared with the city of Gary.
• Legalizes and validates financial documents like bonds, notes, evidences of indebtedness, leases, or other written obligations issued by certain authorities before February 28, 2026.
• Sets rules for when the Lake County Convention Center Authority is established based on construction completion.
• Specifies that only Indiana residents can be appointed to the authority board.

Who It Names or Affects

• Riverboat casinos in Gary
• The city of Gary
• Lake County Convention Center Authority

Terms To Know

Supplemental wagering tax

Extra taxes collected from gambling activities.

Convention and event center

A large building used for meetings, events, and conventions.

Limits and Unknowns

• The bill does not specify how the Lake County Convention Center Authority will be funded.
• It is unclear what happens to the reserve fund after the authority is established.

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning taxation.
Lake County Convention Center.

Current Bill Text

A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Lake County Convention Center.

Makes changes to the amount of supplemental wagering tax that the treasurer of state is required to pay to each riverboat operating in Gary. Makes changes to the distribution of wagering tax revenue to the city of Gary. Legalizes and validates bonds, notes, evidences of indebtedness, leases, or other written obligations issued or executed by or in the name of the: (1) Indiana finance authority; (2) development authority; and (3) Lake County Convention Center Authority (authority); as authorized or approved by resolution or ordinance adopted before February 28, 2026. Provides that the authority is established when the construction of the convention and event center is substantially completed so that the convention and event center can be used for its intended purpose. (Current law provides for the establishment of the authority upon the adoption of the proposal for the development, operation, and ownership of the Lake County convention and event center.) Requires a member appointed to the authority to be an Indiana resident. Provides that an attorney in active standing may not be appointed to the authority. Provides that the Lake County convention and event center reserve fund shall be administered by the Lake County commissioners until the authority is established. Repeals a provision that allocates deposits of Gary riverboat graduated wagering tax revenue.