1. (a) This section does not apply to money wagered on simulcasts of horse races televised under IC 4-31-7-7 .

2. (b) Each permit holder shall pay a fee after the completion of each racing meeting. This fee is in addition to the taxes imposed by section 3 of this chapter. Except as provided in subsection (c), the amount of this fee is determined as follows:

   1. (1) If the total amount of wagering at the racing meeting is less than five million dollars ($5,000,000), the fee is one-tenth of one percent (0.1%) of the total amount wagered.
   2. (2) If the total amount of wagering at the racing meeting is five million dollars ($5,000,000) or more, the fee is fifteen-hundredths of one percent (0.15%) of the total amount wagered.

3. (c) The fees collected under this section from any one (1) permit holder may not exceed fifteen thousand dollars ($15,000) from any one

   1. (1) horse racing meeting in a calendar year.

4. (d) Within ten (10) days after the close of each racing meeting, the permit holder shall forward the fee imposed by this section in equal shares to the fiscal officers of the:

   1. (1) city, if any;
   2. (2) town, if any; and

   3. (3) county;

      in which the racing meeting took place. The city, town, or county may use this money as general fund operating revenues.

As added by P.L.1-1990, SEC.44. Amended by P.L.210-2013, SEC.5.