Kentucky Senate Passes Bill Giving Permanent Tax Breaks On Wagering For In-State Breeders’ Cups

The Kentucky Senate on Wednesday unanimously passed a bill which would offer a tax break for money wagered at the Breeders’ Cup when the races are held at one of the state’s racetracks.

HB259 states that excise tax will not apply and amounts wagered on the Breeders’ Cup (defined as a “two day international horse racing event” with distribution of $20 million or more in purses) will not be included in calculating daily average live handle for tax purposes.

The bill, sponsored by Reps. David Osborne (R), Dennis Keene (D), Dennis Horlander (D), Adam Koenig (R), and Susan Westrom (D) will go on to Gov. Matt Bevin for a signature.

A copy of the bill is available here.

The post Kentucky Senate Passes Bill Giving Permanent Tax Breaks On Wagering For In-State Breeders’ Cups appeared first on Horse Racing News | Paulick Report.

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