KYSS receives $2 million in 2012 funding
February 20, 2012
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The Kentucky Horse Racing Commission (KHRC) announced Monday that the Kentucky Breeders' Incentive Funds are distributing more than $12.8 million in awards. The KBIF was implemented in 2005 to ensure the strength and growth of the horse industry in Kentucky. This fund is financed through the six percent sales tax paid for breeding a stallion to a mare in Kentucky. The monies are divided 80 percent to the Thoroughbreds, 13 percent to the Standardbreds and seven percent to the non-race breeds.
The Kentucky Thoroughbred Breeder Incentive Fund (KBIF) received $10 million, Kentucky Standardbred Breeders’ Incentive Fund (KSBIF) received $2 million for the Kentucky Sire Stakes (KYSS) program and the Kentucky Horse Breeders Incentive Fund (KHBIF) received $815,824 in breeder incentive funds.
“Since the inception of the program, the breeder incentive funds have awarded more than $95 million dollars to Kentucky breeders and owners across the Commonwealth,” said KHRC Chairman Robert Beck. “We are pleased to award an additional $12 million in 2012.”
The KSBIF awarded $2 million to fund the 2012 Kentucky Sire Stakes that consists of two $30,000 legs and a $250,000 final for 2 and 3 year olds. Races will run at The Red Mile on Aug. 19 and Aug. 30 for 2 year olds and Aug. 23 and Sept. 1 for 3 year olds with the $250,000 final on Sept. 9. (with files from KHRC)