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Indiana casino platform legislation proposed

INDIANAPOLIS, Indiana – As reported by the Louisville Courier-Journal: "Lawmakers talked yesterday about allowing the state's casinos to get rid of their boats and essentially build on platforms over water -- if they're willing to pay a substantial fee.

"The proposal also would increase taxes on the most profitable casinos, including Caesars in Harrison County, even if they didn't choose to trade their boats for so-called barges.

"The provisions were part of language suggested by Rep. Trent Van Haaften, D-Mount Vernon, the author of House Bill 1835, which authorizes slot machines at Indiana's horse tracks.

"Van Haaften and a handful of other legislators are seeking a compromise between the HB 1835 versions passed by the House and Senate. Both authorized racetrack slots but disagreed about how many, how much to tax them and what fee to charge tracks for the right to install them.

"…The proposal from Van Haaften would set a fee of $25 million, plus $500 per square foot of additional space created by the barge casino. That would likely mean a $50 million fee, for example, if the Argosy Casino under construction in Lawrenceburg switched to a barge, Whetstone said.

"…The plan under discussion yesterday would impose a 40 percent tax on income higher than $200 million, whether or not the casino opted for barges…"

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