NEWS
Kentucky Breeders’ Incentive Fund to award $19.2-million
Posted: Friday, February 08, 2008 5:38 PM
The 2007 Kentucky Breeders’ Incentive Fund will award Kentucky Thoroughbred breeders $15.5-million in incentives.
Senator Damon Thayer (R-Georgetown) is the legislative author of the breeders’ incentive program, which is funded from a 6% sales tax on stud fees. KBIF awards will total more than $19.2-million, compared to the 2006 payout of $15-million.
Thoroughbred breeders will receive 80% of the fund incentives. Standardbred breeders will receive $2.85-million, or 13%. All other qualified breeds will receive 7%.
“These are positive steps to help Kentucky’s horse industry,” said Thayer, Senate chairman of the Horse Farming subcommittee. “It is gratifying to see the fund grow over 20% from 2006 to 2007, a sure sign that the fund is accomplishing its goal of attracting more horses to Kentucky farms. This will create more equine commerce and a more robust economy, and help Kentucky maintain its position as horse capital of the world.”
The Kentucky Horse Racing Authority administers the KBIF. Checks are scheduled to be mailed during the first quarter of 2008.
