Sec. 7. (a) This section applies to adjusted gross receipts from wagering on gambling games that occurs after the effective date of this section, as added by SEA 528-2013.

(b) As used in this section, "qualified wagering" refers to wagers made by patrons using noncashable vouchers, coupons, electronic credits, or electronic promotions provided by the licensed owner or operating agent.

(c) Subject to subsection (d), a licensed owner or operating agent may at any time during a state fiscal year deduct from the adjusted gross receipts reported by the licensed owner or operating agent adjusted gross receipts attributable to qualified wagering. A licensed owner or operating agent must take a deduction under this section on a form and in the manner prescribed by the department.

(d) Subject to subsection (f), a licensed owner or operating agent may not deduct more than the following amounts in a particular state fiscal year with respect to the qualified wagering conducted at a particular riverboat:

(1) Two million five hundred thousand dollars ($2,500,000) in a state fiscal year ending before July 1, 2013.

(2) Five million dollars ($5,000,000) in a state fiscal year beginning after June 30, 2013, and ending before July 1, 2015.

(3) Seven million dollars ($7,000,000) in a state fiscal year beginning after June 30, 2015, and ending before July 1, 2021.

(4) Nine million dollars ($9,000,000) in a state fiscal year beginning after June 30, 2021.

(e) A licensed owner or operating agent may for a state fiscal year assign all or part of the amount of the deduction under this section that is not claimed by the licensed owner or operating agent for the state fiscal year to another licensed owner, operating agent, or licensee as defined by IC 4-35-2-7. An assignment under this subsection must be in writing and both the licensed owner or operating agent assigning the deduction and the licensed owner, operating agent, or licensee as defined by IC 4-35-2-7 to which the deduction is assigned shall report the assignment to the commission and to the department. The maximum amount that may be assigned under this subsection by a licensed owner or operating agent for a state fiscal year is equal to the result of:

(1) seven million dollars ($7,000,000); minus

(2) the amount deducted under this subsection by the licensed owner or operating agent for the state fiscal year.

(f) This subsection applies for state fiscal years ending before July 1, 2025, to a licensed owner described in IC 4-33-6-1(a)(1). The licensed owner:

(1) operating two (2) riverboats from a dock in Gary under a single license in accordance with IC 4-33-6-1(d); or

(2) operating a riverboat sited at a location approved under IC 4-33-6-4.5;

may deduct the amounts described under subsection (d) as if qualified wagering were being conducted at two (2) riverboats.

As added by P.L.229-2013, SEC.22. Amended by P.L.255-2015, SEC.19; P.L.293-2019, SEC.33.