Kentucky Horse Breeders Incentive Fund
Posted by Jennifer Karlen on Sunday, February 8th, 2009 at 4:51pm.
The Kentucky Horse Breeders Incentive Fund was opened up to many non-racing breeds in early 2007. These incentives can be substantial for horses bred, foaled in KY and that perform well within their respective breed!
To give some background on the topic, the Kentucky Equine Education Project (KEEP) has been quite successful since its launch in 2004. In 2005, the Kentucky Horse Breeders Incentive Fund was introduced. In short, the Kentucky horse breeders incentives are funded through the sales taxes from stud fees.
The funds are then given back as monetary awards to Breeders based on their horses performance in their respective industry. As an example, for Thoroughbred horse owners - the money awarded is based on how well they performed on the track. The non-racing breeds are awarded based on a point system within their respective associations.
Recently, in addition to thoroughbreds, many other breeds were granted funding and provided incentives in this program.
Those additional breeds and associations include:
Kentucky Appaloosa Owners Association
South Central Hackney Association
Kentucky Morgan Horse Association
Kentucky Mountain Horse
Kentucky Paint Horse Club
Kentucky Paso Fino Horse Association
Kentucky Saddlebred Owners and Breeders Association
Kentucky Walking Horse Association
Kentucky Quarter Horse Association
More breeds are likely to be added in the near future.
The funds are distributed to each association based upon the approximate number of registered horses within each association. And since its a self funded program, it helps create interest in horses and farms in Kentucky while being able to sustain itself without costing taxpayers any additional money. Its a win/win.
It appears that this program is working - and working quite well.
These incentives have created a tremendous amount of interest within the Kentucky horse farms and real estate industries. Many persons across the country are now wanting at least a satellite farm for breeding and foaling purposes in Kentucky. Some are relocating their entire horse breeding business to Kentucky.
KEEP estimates that the horse industry’s economic impact is $4 billion annually. KEEP currently has membership of over 11,000 persons and representatives that are team leaders in all 120 counties in Kentucky.
To search for LOUISVILLE or LEXINGTON Kentucky farms for sale, click the following:
Louisville Kentucky Farms for sale
Lexington Kentucky Farms for sale
UPDATE:
The 2007 Awards have been announced and checks will be mailed in March 2008.
Read it all here: 2007 KY Horse Breeders Incentives Awards
5 Responses to "Kentucky Horse Breeders Incentive Fund"
Economists Predict Excellent Farms Agriculture for 2008 wrote:
[...]in approximately 27% of the total net
farm income at just over $4 billion for 2007.
With the Kentucky Breeder Incentive Program, you can expect that horses will only continue to become a larger portion of revenue for Kentucky[...]
farm income at just over $4 billion for 2007.
With the Kentucky Breeder Incentive Program, you can expect that horses will only continue to become a larger portion of revenue for Kentucky[...]
Posted on Sunday, February 8th, 2009 at 8:20pm.
Equine Equity Act - Tax incentives sought for Racehorses wrote:
[...]the world.
It would join the ongoing effort of KEEP (Kentucky Equine Education Project), and the Kentucky Breeder Incentive Program that was recently opened up to many non-racing breeds earlier this year in 2007.
Many other states[...]
It would join the ongoing effort of KEEP (Kentucky Equine Education Project), and the Kentucky Breeder Incentive Program that was recently opened up to many non-racing breeds earlier this year in 2007.
Many other states[...]
Posted on Sunday, February 8th, 2009 at 8:27pm.
Horse Breeders Incentives Audits Walking Horse Monies wrote:
[...]sure everyone is aware of the Kentucky Horse Breeders Incentives Fund.
Well, as with everything - if theres money involved, there are usually
persons looking to[...]
Well, as with everything - if theres money involved, there are usually
persons looking to[...]
Posted on Sunday, February 8th, 2009 at 9:47pm.
Ralph White wrote:
I have developed a new breed of horse.I call them Ky-Ice. I have been selling them in the east and people love them. They are breed for driving and trail riding. I need help getting a registration for them and possibly a grant to improve my breeding program. I would appreciate any advice or help you can give.
Posted on Tuesday, May 22nd, 2012 at 8:03pm.
The fund generated $19,220,007 for 2007. The amounts[...]
Posted on Sunday, February 8th, 2009 at 4:57pm.