Ind. slots bill moves forward

A bill that will allow slot machines at Indiana racetracks passed a state Senate committee Tuesday with a few changes, including reducing the number of machines at each track and substantially increasing the initial fees for each slots franchise.

HB 1835 passed the Indiana Senate Tax and Fiscal Policy Committe by a vote of 9-3 but with a few changes including the following:

--Reducing the number of slots at each track from 2,500 to 1,500;
--Increasing the initial fees for each slots franchise from $100 million to $400 million;
--Allocating $600 million of the revenues the state receives for a higher education trust fund that would bolster college life sciences programs.

The committee also adopted an amendment that will give certain tax and other breaks to existing riverboat casinos.

The bill will now head to the full Indiana Senate for debate and amendments. The last day for a third reading of House Bills in the Senate is Wednesday, April 11.

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