Kentucky Horse Racing & Gaming Corporation Overview
The Kentucky Horse Racing & Gaming Corporation (KHRGC) was established on July 1 to regulate horse racing and gaming activities. It entered into agreements with government cabinets and set up committees for hiring and compensation. The pari-mutuel tax overview reveals funding allocations for various programs. An update on sports wagering taxes and fees is also highlighted, showcasing the latest developments in the industry.
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Presentation Transcript
KENTUCKY HORSE RACING AND GAMING CORPORATION AUGUST 21, 2024
SB299 IMPLEMENTATION July 1: Kentucky Horse Racing & Gaming Corporation (KHRGC) was formed. KHRGC entered into Memorandum of Agreements (MOAs) with cabinets in the executive branch. KHRGC adopted policies Established a Transition Committee Established a Hiring and Compensation Committee
OVERVIEW OF THE PARI- MUTUEL TAX
OVERVIEW OF THE PARI- MUTUEL TAX
OVERVIEW OF THE PARI-MUTUEL TAX Totals from each source: Development Funds: $78,457,691 Equine Drug Research: $460,555 Equine Industry Programs: $222,333 General Fund: $66,671,169 Higher Education: $460,555
UPDATE ON SPORTS WAGERING TAXES AND FEES
