1. (a) A supplemental wagering tax on the wagering occurring each day at a riverboat is imposed upon the licensed owner operating the riverboat.

2. (b) Except as provided in subsection (d), and subject to subsection (c), the amount of supplemental wagering tax imposed for a particular day is determined by multiplying the riverboat's adjusted gross receipts for that day by the quotient of:

   1. (1) the total riverboat admissions tax that the riverboat's licensed owner paid beginning July 1, 2016, and ending June 30, 2017; divided by
   2. (2) the riverboat's adjusted gross receipts beginning July 1, 2016, and ending June 30, 2017.

3. (c) The quotient used under subsection (b) to determine the supplemental wagering tax liability of a licensed owner subject to subsection (b) may not exceed the following when expressed as a percentage:

   1. (1) Four percent (4%) before July 1, 2019.
   2. (2) Three and five-tenths percent (3.5%) after June 30, 2019.
4. (d) The supplemental wagering tax liability of a licensed owner operating an inland casino in Vigo County is equal to two and nine-tenths percent (2.9%) of the riverboat's adjusted gross receipts for the day.

As added by P.L.212-2018(ss), SEC.5. Amended by P.L.293-2019, SEC.24.