BC Tax-Break Bill Offered in Kentucky

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Photo: Breeders' Cup

Legislation authorizing a pari-mutuel tax break for a racetrack that hosts the Breeders’ Cup World Championships has been pre-filed for the 2009 Kentucky General Assembly session.

The bill, filed by Democratic Rep. Tom Burch, would spare a track from paying the on-track excise tax for the two days it hosts “an international horse racing event that distributes in excess of a total of $10 million in purses.” That would be the Breeders’ Cup, which is scheduled to return to Churchill Downs in 2010.

The two-day tax break would remain in effect in subsequent years if the World Championships returns to Kentucky within three years of its last running.

The legislation basically would extend a tax benefit that expired in 2008. Churchill announced in October it was picked as host site for the 2010 World Championships; state and Breeders’ Cup officials have indicated they would like the event to return to Churchill on a regular basis.

Keeneland, which hired a consultant to devise a master plan for expansion, also indicated an interest in hosting a future Breeders' Cup.

The Burch legislation also would slightly increase a small percentage of inter-track and interstate handle received by the University of Louisville for its equine industry program.

Earlier, Burch pre-filed 2009 legislation calling for racetrack-based video lottery terminals.

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