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2025 Kentucky Revised Statutes
Chapter 230 - Kentucky horse racing and gaming corporation
230.800 Kentucky Thoroughbred breeders incentive fund -- Contributions -- Purposes -- Distribution -- Administrative regulations.

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KY Rev Stat § 230.800 (2025)
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230.800 Kentucky Thoroughbred breeders incentive fund -- Contributions -Purposes -- Distribution -- Administrative regulations. (1) (2) There is hereby created a corporate account for the Kentucky Horse Racing and Gaming Corporation designated as the "Kentucky Thoroughbred breeders incentive fund." The fund shall be administered by the corporation. For all tax periods beginning on or after June 1, 2005, eighty percent (80%) of all receipts collected under KRS 139.531(1)(a) from the sales and use tax on the fees paid for breeding a stallion to a mare in Kentucky shall be transferred to the corporation for deposit in the fund together with any other money contributed, appropriated, or allocated to the fund from all other sources. Any money remaining in the fund at the close of any calendar year shall not lapse but shall be carried forward to the next calendar year. The fund may also receive additional state appropriations, gifts, grants, and federal funds. All interest earned on money in the fund shall be credited to the fund. (a) The Kentucky Horse Racing and Gaming Corporation shall use moneys deposited in the Kentucky Thoroughbred breeders incentive fund to administer the fund and provide rewards for breeders of horses bred and foaled in Kentucky to be divided as follows: 1. At least ninety percent (90%) shall be allocated to provide the breeder rewards as set forth in this section; and 2. Up to ten percent (10%) may be allocated for administration and operation of the corporation. (b) The Kentucky Horse Racing and Gaming Corporation may promulgate administrative regulations establishing the conditions and criteria for the distribution of moneys from the fund. (c) The Department of Revenue may promulgate administrative regulations establishing the procedures necessary to determine the correct allocation of sales tax receipts described in subsection (1) of this section. (d) As soon as practicable after the close of each calendar year, the corporation shall disburse to breeders of horses moneys in the Kentucky Thoroughbred breeders incentive fund pursuant to the administrative regulations promulgated pursuant to paragraph (b) of this subsection. Effective: March 27, 2025 History: Amended 2025 Ky. Acts ch. 124, sec. 18, effective March 27, 2025. -Amended 2024 Ky. Acts ch. 171, sec. 93, effective July 1, 2024. -- Amended 2010 Ky. Acts ch. 24, sec. 491, effective July 15, 2010. -- Created 2005 Ky. Acts ch. 168, sec. 133, effective June 1, 2005.
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