KY Committee Passes Tax-Break Bill
On Wednesday, February 10 in Kentucky, the House Agriculture and Small Business Committee voted in favour of a piece of legislation that calls for taxes on agricultural items related to the horse racing industry to be eased.
As an article by the Lexington Herald-Leader explains, the bill would deem horse owners exempt from having to pay a state tax on certain items used in their operations, including machinery, feed and fertilizers.
The piece explains that other livestock sectors in the state are already exempt from paying the state tax in question.
The article has quoted Republican Rep. Steven Rudy as saying "it is ridiculous that for this many years, our signature industry has been treated like a stepchild."
The article has described the piece of legislation as a ‘longshot’ bill. The legislation will now be be referred to the House Appropriations and Revenue Committee.
(With files from the Lexington Herald-Leader)