The tax incentives instituted in Kentucky when Keeneland hosted the 2015 Breeders' Cup event are now permanent, reports bloodhorse.com, thanks to a bill signed into law this week by Governor Matt Bevin.
The legislation waives the Kentucky excise tax on pari-mutuel handle, which amounted to about $750,000 in 2015. The Breeders' Cup will be hosted at Churchill Downs this fall, and according to Representative David Osborne, this bill opens the Louisville racetrack to the opportunity to be named as a permanent member of the Championships' rotation.
“We are delighted that Governor Bevin has signed HB 259 into law and would like to thank Rep. David Osborne and Sen. Damon Thayer for their hard work and support of this initiative,” read a statement from the Breeders' Cup. “A permanent incentive further illustrates Kentucky's strong support for hosting the Breeders' Cup and we look forward to returning to Churchill Downs on November 2 & 3 of this year, as well as future events in the Commonwealth of Kentucky.”
Read more at bloodhorse.com.
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