A tax package that will extend racing and breeding incentives in the state of the Florida, was approved Friday by Florida Legislature according to a release by the FTBOA. HB 7073, which was initially enacted in 2023, continues to provide state funding for HISA along with $20m in purses and/facility improvements split between Gulfstream Park and Tampa Bay Downs. It also gives $5m to the FTBOA for use as racing and breeding promotions and an additional $2.5m for Florida-bred racing incentives. In total, HB 7073 gives a boost of over $32.5m to the Florida racing and breeding industries.
“Once again, the legislative sponsors of last year's breeding and racing development program stepped up in a big way,” said FTBOA president George Isaacs. “I'd like to personally thank Marion County's Representative Stan McClain [R-Ocala] and Senator Blaise Ingoglia [R-Spring Hill] for continuing their support of this program. We have also enjoyed support from the state's legislative and industry leaders, including Representative Lawrence McClure [R-Dover].”
HB 7073 now goes to the desk of Florida Governor Ron DeSantis for further action.
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