INDY LEGISLATION WOULD TAX OUT-OF-STATE PRO ATHLETES

          An IN Senate bill that calls for taxing the income of
     out-of-state pro athletes "appears to have a good shot" of
     gaining House approval and becoming law, according to Barb
     Albert of the INDIANAPOLIS STAR-NEWS.  The legislation,
     which has failed to gain approval in three previous years,
     would allow the state to tax nonresident baseball,
     basketball, football, hockey and soccer players for the
     number of days they play and practice in the state.  Taxes
     levied on the athletes would be deducted from players'
     income taxes in their home states, so "they wouldn't pay any
     more income tax than they do now."  If the legislation
     passes, IN "stands to gain" up to $2M annually in tax
     revenues from a 3.4% tax rate.  Under provisions of a
     separate bill, the tax revenues could be used to help
     finance a new Pacers arena and would create a "professional
     sports development district" in downtown Indianapolis
     (INDIANAPOLIS STAR-NEWS, 3/19).