House Bill 1540 passes Senate Committee

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Jon Bond, President of the Switzerland County Economic Development Corporation, announced last week that House Bill 1540 – which at one time targeted large amounts of riverboat funds currently going to the county – has been amended and approved by the Senate Appropriations Committee.

“The amendment was very similar to the information presented in committee last week, with a few additional changes to revenue distribution from the French Lick Casino,” Bond said.

Bond said that the amendment does not add any new impact to Switzerland County’s local gaming revenue; but it does add the subject of ‘Supplemental Admissions Tax’ payments to the list of items discussed in the upcoming summer study committee.

Other Items in the amendment include:

– Guidelines for entering in to compacts with tribes for Indian casinos.

– Racinos will be allowed to have live table games, but not until 2021.

– Allows Casinos to host charity gaming events.

– Allows Casinos to provide complimentary alcohol in non-gaming areas.

– Make promotional play tax credits permanent and allows an operator to

transfer/sell their credits to another operator.

– Removes the gaming investment tax credit.

“The Appropriations Committee was an important step towards our goal of

getting through this session without losing local gaming revenue,” Bond said. “This is the committee where gaming bills are amended to take local money. It was critical to get a bill out of this committee that did as little damage as possible to local revenue because, as we have seen in years past, our chances of improving or defeating the bill on the Senate floor were very slim.”

House Bill 1540 could move to the floor of the Senate this week.