Ind. slots deadline nears

Indiana lawmakers are working this weekend on a draft proposal that would allow up to 2,000 slot machines apiece at Hoosier Park and Indiana Downs. However, time is running out to complete a deal, as the General Assembly is slated to adjourn at midnight Sunday. On Friday members of the conference committee tasked with developing a compromise spoke about the newest proposal, which calls for a $250 million licensing fee for each track to operate slots.

“We’ve come to a meeting of the minds, but nothing is certain until the gavel drops,” said Rep. Trent Van Haaften, D-Mount Vernon, author of House Bill 1835, which passed both chambers earlier this year.

The Indiana House endorsed a version of HB 1835 which called for 2,500 machines at each track and a licensing fee of $100 million. In the Senate, the bill was amended, with the number of machines cut to 1,500 at each facility and the licensing fee quadrupled to $400 million. Now in conference committee, a proposal must be drafted and then adopted by each chamber before the deadline Sunday in order to advance to the governor.

Lawmakers are looking to slots legislation as a means to provide property tax relief. The $500 million in total licensing fees that could be paid by both tracks would help offset property tax increases that are projected to increase an average of 24 percent statewide.

“We’re lucky to be able to have this amount of money,” said House Speaker Pat Bauer, D-South Bend, “We’re just fortunate that we can do it.”

While the draft proposal would reduce the licensing fees paid by each track, in turn it requires operators to spend a minimum $100 million on the facilities that will house slots. In addition, some legislators are looking to reduce the 15 percent of slots revenue to be allocated for purses and breed development, either by lowering the percentage or instituting a cap.

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