(a) Subject to subsection (b), if:(1) a distribution agreement is not submitted to the Indiana horse racing commission before the deadlines imposed by section 16 of this chapter; or(2) the Indiana horse racing commission is unable to approve a distribution agreement;the Indiana horse racing commission shall determine the percentage of a licensee's adjusted gross receipts that must be distributed under section 12(b) of this chapter.(b) The Indiana horse racing commission shall give the negotiation committees an opportunity to correct any deficiencies in a proposed distribution agreement before making a determination of the applicable percentage under subsection (a).(c) The Indiana horse racing commission shall consider the factors used to evaluate a distribution agreement under section 18 of this chapter when making a determination under subsection (a).As added by P.L.210-2013, SEC.16. Amended by P.L.108-2019, SEC.79; P.L.168-2019, SEC.21.
Indiana Legal Code