Estridge files petition against state over Indiana Downs race track 'windfall' fee

IBJ Staff

Paul Estridge Jr. has filed a petition to try to stop the state from collecting a fee stemming from the sale of his minority stake in Indiana Downs horse track in Shelbyville.

Estridge, of Carmel, claims that the fee is in effect a transfer tax, and that the tax is unconstitutional, according to The Courier-Journal of Louisville.

The petition was filed in Marion County through Terre Haute attorney Jim Bopp. Estridge wants the rule invalidated. He also wants a refund of the $9 million fee he had to pay to sell his stake.

Gov. Mitch Daniels requested that the Indiana Horse Racing Commission impose the fee for track minority owners because the owners would receive a "windfall" profit due to the General Assembly's authorizing slot machines at the tracks.