The Florida Thoroughbred Breeders' and Owners' Association reported a substantial increase in awards will be paid to breeders and stallion owners for 2024 through their Annual Awards Plan that was approved by the Florida Gaming Control Commission, the organization said in a release Thursday.
The plan increases, which were enabled with the enactment of HB 7063, would increase Florida breeder and stallion awards by one-third, from the 15% level in 2023 to as much 20% of the announced gross purse in 2024.
HB 7063 is a $1.3 billion tax package and includes $5 million provided to the FTBOA for Florida breeding awards and incentives.
Breeder awards will be paid at 12.5% for first place, 5% for second place and 2.5% for third place, subject to specified caps. Those caps would also increase to $12,500 for first (an increase from $10,500 in 2023), $5,000 for second (an increase from $3,000), and $2,500 for third (an increase from $1,500).
Stallion awards in 2024 will be capped at $20,000 (an increase from $15,000) for wins in black-type races in Florida.
The total Florida breeder and stallion awards budget for 2024 is projected to be more than $8 million, a 52% increase from $5.3 million in 2023.
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