{"data":{"id":"us-ky/krs-230.800","jurisdiction":"us-ky","citation":"KRS 230.800","heading":"Kentucky Thoroughbred breeders incentive fund -- Contributions --","body":"Purposes -- Distribution -- Administrative regulations.\n(1) There is hereby created a corporate account for the Kentucky Horse Racing and\nGaming Corporation designated as the \"Ke ntucky Thoroughbred breeders incentive\nfund.\" The fund shall be administered by the corporation. For all tax periods\nbeginning on or after June 1, 2005, eighty percent (80%) of all receipts collected\nunder KRS 139.531(1)(a) from the sales and use tax on th e fees paid for breeding a\nstallion to a mare in Kentucky shall be transferred to the corporation for deposit in\nthe fund together with any other money contributed, appropriated, or allocated to\nthe fund from all other sources. Any money remaining in the f und at the close of\nany calendar year shall not lapse but shall be carried forward to the next calendar\nyear. The fund may also receive additional state appropriations, gifts, grants, and\nfederal funds. All interest earned on money in the fund shall be credited to the fund.\n(2) (a) The Kentucky Horse Racing and Gaming Corporation shall use moneys\ndeposited in the Kentucky Thoroughbred breeders incentive fund to\nadminister the fund and provide rewards for breeders of horses bred and\nfoaled in Kentucky to be divided as follows:\n1. At least ninety percent (90%) shall be allocated to provide the breeder\nrewards as set forth in this section; and\n2. Up to ten percent (10%) may be allocated for administration and\noperation of the corporation.\n(b) The Kentucky Horse  Racing and Gaming Corporation may promulgate\nadministrative regulations establishing the conditions and criteria for the\ndistribution of moneys from the fund.\n(c) The Department of Revenue may promulgate administrative regulations\nestablishing the procedu res necessary to determine the correct allocation of\nsales tax receipts described in subsection (1) of this section.\n(d) As soon as practicable after the close of each calendar year, the corporation\nshall disburse to breeders of horses moneys in the Kentuc ky Thoroughbred\nbreeders incentive fund pursuant to the administrative regulations\npromulgated pursuant to paragraph (b) of this subsection.","path":["KRS Chapter 230"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56031","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:47Z","sha256":"9551d47ae03301a5f1d30f324bdee2e79eac21f67eba549b48b387d61e052d4f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-230.785","next":"us-ky/krs-230.802"},"notice":"GroundRules: Original legal text. Not legal advice."}