Legislative efforts to resolve Kentucky's public pension problems got attention at Monday’s Kentucky Equine Education Project Conference in Lexington.
A panel discussion on equine taxation and legislation included comments from Jay Ingle, an attorney who’s worked for horse-related clients for years.
Ingle said some proponents of expanded gambling might view it as an answer in difficult pension times. He says he doesn’t.
“I’ve not heard anything yet that suggests it’s got any real traction or is likely to pass or really even get very far down the road,” said Ingle.
Ingle says casino-related legislation has been pre-filed for consideration in the 2018 session.
Over the years, bills have been filed to exempt horse farm owners from the state sales tax on feed, supplies, machinery, and fencing. KEEP Director Joe Clabes says such a law would benefit horse farms of all sizes.
“We would hope it would return millions of dollars each year to our equine economy. Projections would be somewhere between 30 to 20 million dollars roughly that it would return back into horse operations and individual owners,” noted Clabes.
Such sales tax exemptions are already in place for other farm animals across Kentucky. Supporters of this additional exemption see talk about tax reform as an opportunity for the bill to become law.