The Kentucky Horse Racing Commission has announced the distribution of more than $12.8 million in Kentucky Breeders’ Incentive Fund awards.
Implemented in 2005, the fund is financed through the 6% sales tax paid for breeding a stallion to a mare in Kentucky. The money is divided 80% to Thoroughbreds, 13% to Standardbreds, and 7% to the non-race breeds.
As a result of that distribution formula, the Kentucky Thoroughbred Breeders' Incentive Fund received $10 million, Kentucky Standardbred Breeders’ Incentive Fund received $2 million for the Kentucky Sires Stakes program, and the Kentucky Horse Breeders' Incentive Fund received $815,824.
The KBIF requires owners to board mares in Kentucky from the time of breeding until the birth of the foal. Incentive payments are based on the foal’s eventual winnings on the racetrack.
In 2012, the KBIF will award $10 million on 3,200 races in Kentucky, across the United States, and grade/group I, II, and III races in Canada, England, France, and Ireland during 2011.
The KSBIF awarded $2 million to fund the 2012 Kentucky Sires Stakes that consists of two $30,000 legs and a $250,000 final for 2- and 3-year-olds. Races will be run at The Red Mile Aug. 19 and Aug. 30 for 2-year-olds, and Aug. 23 and Sept. 1 for 3-year-olds, with the $250,000 finals Sept. 9.
The Kentucky Quarter Horse Association, representing the largest non-race breed in the state between 2009 and 2011, received $219,815, and the Kentucky Morgan Horse Association, representing the smallest breed in Kentucky, received $7,354. The remaining funds went to the other associations in the category.
The breeder incentive funds are administered by the KHRC.