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Kentucky commission to investigate the mutual wagering tax

Kentucky's new commission will examine the betting tax, and lawmakers will debate whether it is too low.

New committee in Kentucky to investigate pari-mutuel tax

The commission set up this year will focus on investigating the tax on mutual wagering in Kentucky. The state representative is the co-chair of the committee Adam Koenig and leader of the Kentucky Senate majority Damon Thayer .

Koenig chairs the Chamber's Licensing, Competition and Administration Committee dealing with racing matters. Thayer has worked for the Breeders' Cup and the National Thoroughbred Racing Association.

The General Meeting passed this measure by authorizing Kentucky Horse Racing Commission for approval and regulation historic horse racing (HHR).

Historic horse racing machines look a lot like slot machines, but instead of random number generators, they use races that have already happened to bet and win.

The tax rate on machinery has been the subject of a debate over legislation. There were questions about the tax rate on machine sockets. The general state fund receives 1,5% handles, which is the sum of money from the plant, minus the funding for the horse of full and standard breeding, breeding development.

The Kentucky Equine Education Project, which promotes the equine industry, said it will work with the committee to ensure a fair tax structure for the industry and the state. The industry now provides 60,000 work in Kentucky.

Kentucky's Supporting Historic Horse Racing Act passed the Senate in February of this year with 22 - 15 vote . He then moved to the House of Representatives, which then handed him over with 55 – 38 vote and send it to the government for signature Andy Beshear that strongly supports historic horse racing.

Critics consider the tax "grossly" low

The measure was not without criticism. Some argued that the state would not receive enough income from the track rental machines at its facilities.

According to official data from the Kentucky Horse Racing Commission, the HHR generated $ 531.8 million including Kentucky showroom revenue in April. Received songs $ 46.1 million of this amount and the fund - $ 3.7 million , which is 8% track revenue. With the funds for the development of breeding in the amount $ 4.3 million , this amount rises to 17. 3% .

Jason Bailey, executive director of the Kentucky Center for Economic Policy, wrote that he hopes lawmakers will raise the tax. It was "grossly" low, he said.

Republicans do 8 with 10 seats in committee. The other members are State Sens. Julie Raque Adams , R-Louisville; Denise Harper Angel , D-Louisville; Christian McDaniel , R-Taylor Mill; and Stephen West, R-Paris et al.

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