{"data":{"id":"us-ky/krs-230.802","jurisdiction":"us-ky","citation":"KRS 230.802","heading":"Kentucky standardbred breeders incentive fund -- Contributions --","body":"Purposes -- Distribution -- Administrative regulations.\n(1) There is hereby created a corporate fund designated as the \"Kentucky standardbred\nbreeders incentive fund.\" The fund s hall be in the Kentucky Horse Racing and\nGaming Corporation. For tax periods beginning on or after June 1, 2005, thirteen\npercent (13%) of all receipts collected under KRS 139.531(1)(a) from the sales and\nuse tax on the fees paid for breeding a stallion to  a mare in Kentucky shall be\ndeposited in the fund together with any other money contributed, appropriated, or\nallocated to the fund from all other sources. The money deposited in the fund is\nhereby appropriated for the uses set forth in this section. Any money remaining in\nthe fund at the close of any calendar year shall not lapse but shall be carried forward\nto the next calendar year. The fund may also receive additional state appropriations,\ngifts, grants, and federal funds. All interest earned on money in the fund shall be\ncredited to the fund.\n(2) (a) The Kentucky Horse Racing and Gaming Corporation shall use moneys\ndeposited in the Kentucky standardbred breeders incentive fund to administer\nthe fund and provide rewards for breeders or owners of Kentuck y-bred\nstandardbred horses 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 reg ulations\nestablishing the procedures 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 moneys in  the Kentucky standardbred breeders incentive fund\nto be used to promote, enhance, improve, and encourage the further and\ncontinued development of the standardbred breeding industry in Kentucky,\nunder the administrative regulations promulgated pursuant to paragraph (b) of\nthis subsection.","path":["KRS Chapter 230"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56032","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:47Z","sha256":"a8be590ff13e9d8e2ef3fcce1ffc7620481fac232b3005ac83b62e47ad305e0d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-230.800","next":"us-ky/krs-230.804"},"notice":"GroundRules: Original legal text. Not legal advice."}