Kentucky Sen. Damon Thayer announced that a Breeders’ Cup incentive package had been secured as part of the economic development incentive package that was passed by the House and Senate in Frankfort June 24.
“This legislation changes Kentucky’s statutory definition of the Breeders’ Cup World Championships from one to two days, and re-authorizes the pari-mutuel tax credit for 2010 if Breeders’ Cup Limited has a contract to return the event to Kentucky in 2011, 2012, or both,” said Thayer in a statement. “It also requires that $500,000 of the tax credit be used for undercard purses during Breeders’ Cup weekend.
“If the Breeders’ Cup returns to Kentucky at least twice between 2010 and 2012, the host track will receive the tax credit. Then, in 2013, the former ‘every third year’ clause returns in order for the tax credit to be earned.”