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.