Keeneland Breeders' Cup Tax Break Bill Passes
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Lexington's Keeneland Race Course will get a tax break from the state for hosting the Breeders' Cup this fall after the state Senate gave final approval to the bill March 11 and a spokeswoman for Democratic Gov. Steve Beshear says he will sign it.
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The bill, approved on a 30-5 Senate vote, would exempt the racetrack from the state's excise tax on pari-mutuel wagering. The exemption would cost the state about $1 million in tax revenue, and supporters say the Oct. 30-31 event will generate more than that with spending from tourists.
The Breeders' Cup World Championships is returning to Kentucky for the first time since 2011. This will be Keeneland's first time hosting the horse racing championship.