(Edited press release)
Republican Sen. Damon Thayer announced Feb. 8 award amounts for the 2007 Kentucky Breeders' Incentive Fund.
The KBIF is solely funded by the 6% sales tax on stud fees. This year's KBIF awards will total $19,220,007, up from the $15,000,000 awarded in 2006.
Below are the statutory breed amounts of KBIF awards, with 80% allotted to Thoroughbreds, 13% to Standardbreds, and 7% to other breeds.
--Thoroughbreds - $15.5 million (breeders incentives)
--Standardbreds - $2.85 million (sire stakes purses)
All others breeds will receive a percentage of an allocated amount of approximately $1.37 million.
"These are positive steps to help Kentucky's horse industry," said Thayer, who also serves as senate chairman of the Horse Farming Subcommittee.
"It is gratifying to see the fund grow more than 20% from 2006 to 2007, a sure sign the fund is accomplishing its goal of attracting more horses to Kentucky's farms. This will create more equine commerce and a more robust economy, and will help Kentucky maintain its position as horse capitol of the world."
The KBIF is administered by the Kentucky Horse Racing Authority, which reported checks would be mailed to award recipients during the first quarter of 2008.