The Florida Legislature passed a bill with long-sought benefits for Thoroughbred racetracks, including tax breaks, more slot machines, and extended poker room hours. The governor is expected to sign the bill into law.
The 2003 Tax Act, recently passed by Congress to stimulate the economy, has several very favorable provisions for the equine industry.
Churchill Downs and labor union leaders reached a deal July 13 that will allow the racetrack to receive $7.5 million in tax breaks and help finance a major renovation project.
Kentucky's budget woes could negatively impact the state's racing industry, which is counting on tax breaks to alleviate some financial strain.
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