Governor Ernie Fletcher’s Communications Office
Governor Fletcher Announces $12 Million in Incentives to Kentucky Thoroughbred Breeders
Program crafted to enhance Kentucky’s pre-eminence in the horse industry
FRANKFORT, Ky. – Governor Ernie Fletcher today announced the first awards to breeders of thoroughbred horses through the Kentucky Breeders’ Incentive Fund (KBIF).
“The Kentucky Breeders’ Incentive Fund was an important part of my tax modernization plan for growing Kentucky’s economy,” said Governor Fletcher. “It was crafted to preserve and enhance Kentucky’s pre-eminent position in the thoroughbred breeding industry. In just the first year, this incentive program awarded more than $12 million to Kentucky breeders – a significant economic boost for the Commonwealth.”
The new incentive fund became effective Jan. 1, 2006. Governor Fletcher signed an emergency regulation in December 2005 to implement the program for the 2006 racing and breeding seasons. The primary economic incentive is for owners to board thoroughbred mares in Kentucky.
“This program will encourage horse breeders from around the world to breed their mares to Kentucky stallions then board them year-round at Kentucky farms,” said Senator Damon Thayer (R-Georgetown). “I am grateful to Governor Fletcher for including the breeders’ incentive in his JOBS for Kentucky bill, and to the thousands of participants in Kentucky’s signature industry.”
The KBIF requires owners to board mares in Kentucky from the time of breeding until birth of the foal. Incentive payments are based on the foal’s eventual winnings on the race track. A breeder of a horse foaled in 2006 or earlier is eligible to participate in the KBIF if the horse was eligible to be registered under the Kentucky Thoroughbred Development Fund.
Breeders participating in the program for foals born in 2007 and all future years are required to keep their mares in Kentucky from the time of the first breeding to a sire registered to the Kentucky Thoroughbred Development Fund until foals are born.
Certain exceptions to the residency requirement are provided for mares needing to leave the state for training or medical reasons.
The KBIF is administered by the Kentucky Horse Racing Authority (KHRA). For more information and a complete list of award winners visit www.khra.ky.gov or call (859) 246-2040.