NEWS
NTRA committee recommends higher contributions
Posted: Friday, April 07, 2000
The National Thoroughbred Racing Association's funding advisory committee, meeting Thursday at Keeneland racecourse in Lexington, endorsed the idea of increasing buyer, seller, consignor, and sales company contributions to the NTRA.The committee, which consists of leaders representing different arms of the sales industry, recommended raising the current 0.1% voluntary contribution to 0.25%.
Should that proposal gain final approval, a substantial amount of the resulting funds could be used toward legislative and political efforts in Washington, D. C. backed by the NTRA. The NTRA has recently thrown its support—both financially and with staff—behind the pending Internet Gambling Prohibition Act, which includes language exempting pari-mutuel wagering from restrictions.
Chip Tuttle, NTRA vice president of communications, said the committee had not totally ironed out details on the voluntary contribution program and was making an initial recommendation to the NTRA.
"They want to take an additional period of communication with all the leading parties in the public sales process before we take any definitive action," Tuttle said. "They're looking at a program that is not the 1%, but not the .1% either, and of course, it would be non-mandatory."
The funding committee was formed last September shortly after plans to implement a mandatory 1% buyers premium failed. The NTRA was forced to slash its budget after the mandatory program failed, and reverted back to its original .1% voluntary program that was initiated in 1998.
Thursday's meeting was the third session for the committee, which also recommended that the NTRA work on its communication efforts among members.
"We're happy with the direction and the support the committee has shown," Tuttle said.—Tom Law
