According to a report on courier-journal.com, Kentucky house speaker Larry Clark yesterday filed three bills. The bills propose increased takeout, taxes, and out-of-comp
etition testing.
The increase capital taken in via increased takeout would fund the Kentucky horse racing commission.
The report cites the recent report by governor Steve Beshear's task force which indicates that with current staffing levels and no new funding the commission would run a deficit of more than $900,000 during the fiscal year that starts in July.
One measure, House Bill 475, imposes a 3.5 per cent tax on bets made by Kentucky residents through account wagering companies that take bets on any Kentucky races. The tax would be paid by the account wagering companies, which allow those who've deposited funds to bet by telephone or the internet.
Clark's House Bill 474 increases the annual excise tax on tracks with average daily live handles of $1 million or more -- typically Churchill Downs and Keeneland -- to 3.827 per cent from 3.5 per cent.
Amongst other things, one of the aspects of House Bill 472 would give the commission authority over training centres for legal, out-of-competition drug testing.
To read the article in its entirety, click here.
(With files from courier-journal.com)