1. (a) This section applies only to tax revenue:

   1. (1) remitted by a licensed owner operating a riverboat sited at a location approved under IC 4-33-6-4.5 ; and
   2. (2) collected under this chapter after June 30, 2025.

2. (b) Notwithstanding section 3 of this chapter, the department shall deposit from the tax revenue remitted under this chapter by a licensed owner operating a riverboat sited at a location approved under IC 4-33-6-4.5 amounts as follows:

   1. (1) In each state fiscal year beginning after June 30, 2025, and ending before July 1, 2027, an amount equal to the amount deposited under IC 36-7.5-6-5 (a) by the city of Gary in the blighted property demolition fund established by IC 36-7.5-6-4 , up to three million dollars ($3,000,000).
   2. (2) In each state fiscal year beginning after June 30, 2025, and ending before July 1, 2045, an amount equal to the amount deposited under IC 36-7.5-7-5 (c) by an entity in the Lake County economic development and convention fund established by IC 36-7.5-7-5 , up to five million dollars ($5,000,000).

   3. (3) In each state fiscal year beginning after June 30, 2025, and ending before July 1, 2050, an amount equal to the amount deposited under IC 36-7.5-8-4 by the city of Gary, or on behalf of the city of Gary from any other source, in the Gary Metro Center station revitalization fund established by IC 36-7.5-8-3 , up to three million dollars ($3,000,000).

      Any amount of tax revenue remitted under this chapter by a licensed owner operating a riverboat sited at a location approved under IC 4-33-6-4.5 in a state fiscal year that exceeds the amount required for the deposits in this subsection for the state fiscal year must be deposited in the state gaming fund under section 3 of this chapter.

3. (c) Budget committee review is required before any money may be:

   1. (1) matched under subsection (b); and

   2. (2) released to any of the following funds:

      1. (A) The blighted property demolition fund established by IC 36-7.5-6-4 .
      2. (B) The Lake County economic development and convention fund established by IC 36-7.5-7-5 .
      3. (C) The Gary Metro Center station revitalization fund established by IC 36-7.5-8-3 .
4. (d) The northwest Indiana regional development authority established by IC 36-7.5-2-1 shall provide any information to the department that the department determines is necessary for the department to carry out this section.
5. (e) This section expires July 1, 2050.

As added by P.L.195-2023, SEC.1.