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Sales tax equity for Ky’s horse industry takes step forward as House committee approves
Thursday, February 11, 2016 RSS Feeds

The effort to achieve sales tax equity for Kentucky’s horse industry took a step forward today when the Kentucky House Agriculture Committee unanimously approved HB 112.

Introduced by Rep. Mike Denham, HB 112 will provide exemption from state sales tax for feed, supplies and equipment used to raise and care for equines, equivalent to the tax policy for other agriculture animals.

“On behalf of Kentucky’s equine economy, I would like to express sincere appreciation to members of the Committee for the strong message of support they sent to Kentucky’s signature industry today,” said Joe Clabes, KEEP’s executive director. “We owe a debt of gratitude to Rep. Denham and
Chairman McKee in particular for their leadership on this issue.”

Appearing with Rep. Denham and the Kentucky Thoroughbred Association representative David Switzer, Clabes urged members to consider the increased revenue such a change in tax policy would generate for the state from increased equine activity and not just focus on the revenue lost from not collecting the tax.

“The Equine Sales Tax Equity Task Force members and the industry’s grassroots supporters also played an important role in this process” added Clabes. “Many of the Committee members referenced receiving messages of support for HB 112 from their constituents, clearly expressing their support for the horse industry and unity in their desire see the industry treated fairly.”

Due to its budgetary implications, the bill would need to be approved by the House Appropriations and Revenue Committee, before it could advance to the full House for a vote.

Unlike the Agriculture Committee, which focuses more on matters of agriculture policy, the House A&R Committee will likely place greater emphasis on the fiscal impact of the legislation. In order to build on the momentum of today’s Committee vote, KEEP will continue to help supporters contact their legislators through their online advocacy center at www.horseswork.com/advocacy.

From the Kentucky Equine Education Project

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The CBA works democratically on behalf of every consignor and commercial breeder, large and small, to provide representation and a constructive, unified voice related to sales issues, policies, and procedures. The Association’s initiatives are designed to encourage a fair and expanding market place for all who breed, buy, or sell thoroughbreds.