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From YouTube: Pari-Mutuel Wagering Taxation Task Force 8/9/21
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C
C
A
You
very
much
I
want
to
thank
everyone
for
their
attendance
today.
Bonus
points
to
those
who
are
here
in
person.
I'd
also
like
to
note
that
chairman
schickel
has
joined
us
as
he
did
for
the
second
meeting.
Mr
chairman,
we're
glad
you're
here
today.
A
A
A
I
would
like
to
note
that
I
have
been
watching
movies
of
chairman
schickel
and
chairman
koenig
to
hone
up
on
my
committee
operation
skills,
so
I
feel
like
I'm
ready
to
go.
I've
learned
from
two
of
the
best,
but
I
I
I
did
leave
my
egg
timer
at
home
chairman
chickel
thanks.
If,
if
we
need
it,
we
will
we
know
we
can
count
on
you.
A
So
first
thing
we
need
to
do
is
approve
the
minutes
from
the
july
16
2021
meeting.
Do
I
have
a
motion
motion
from
representative
cook,
a
second
from
representative
koenig,
all
in
favor,
say
aye
minutes
approved
so
during
the
first
meeting
last
month
and
by
the
way
I
know
there
are
some
horse
industry
reporters
watching
online
today,
the
minutes
of
last
month's
meeting
are
available
online.
A
They
are
under
the
date
of
today's
meeting
because
they
are
part
of
the
business
packet
presented
to
members
today
that
we
approved.
So
if
anyone
out
there
is
interested
in
finding
out
what
we
talked
about
at
the
last
meeting,
the
minutes
are
available
online.
What
we
did
talk
about
last
meeting
were
the
various
taxes
that
the
para
mutual
industry
pays
and
and
how
those
monies
are
allocated
not
only
to
the
general
fund,
but
the
various
other
industry
funds
that
benefit
from
from
it.
A
A
It's
used
to
promote
tourism,
it's
used
to
promote
business,
it's
on
the
it's
often
on
the
front
of
tourism
brochures
communities
around
the
commonwealth,
use
it
to
attract
visitors
to
their
part,
various
parts
of
the
state,
but
here
we're
going
to
get
into
the
actual
economics
and
we're
going
to
start
with
an
overview
of
the
entire
equine
industry
and
all
breeds
to
see
what
the
effect
is
on
our
economy
and
and
then
we're
going
to
take
a
deeper
dive
into
the
thoroughbred
side.
A
The
thoroughbred
side,
as
you
will
see,
is
the
greatest
driver
of
the
the
horse
economy
in
kentucky,
but
not
to
diminish
the
other
parts,
because
the
the
the
hole
is
the
sum
of
the
parts
and
is
a
very
important
aspect
of
why
horses
are
the
signature
industry
of
kentucky.
So
we
will
begin
with
that.
Overall,
look
by
inviting
representatives
of
the
kentucky
equine
education
project
to
the
rostrum
they
can
come
forward
now.
A
I
also
would
like
to
note
that
representative
fister
has
joined
us
representative
fister,
we're
very
glad
to
have
you
today
with
certainly
your
representation
of
woodford
county.
We
appreciate
your
interest
in
this
task
force,
so
thank
you
for
joining
us,
so
we
welcome
elizabeth
jensen
to
the
table.
Would
you
please
introduce
yourself
and
your
organization
for
the
record.
A
A
A
All
right
we're
still
getting
a
message
that
the
online
viewers
are
not
able
to
hear
her.
Why
don't
you
can?
Can
you
go
to
the
middle
microphone
and
try
that
better
there
we
got
you
now,
okay,
if,
if
senator
mcdaniel,
paying
very
close
perfect,
he
says
so
we
we
know
that
senator
mcdaniel
is
paying
very
close
attention,
as
he
always.
B
B
Keep
advocates
for
policies
that
benefit
all
participants
in
kentucky's
signature
industry
and
grow.
The
positive
impact
that
it
has
on
our
state,
because
horses,
work
for
kentucky
keeps
work,
is
not
limited
to
thoroughbred
racing,
keep
actively
supports
and
advocates
for
all
of
the
breeds
and
disciplines
in
kentucky
our
boy
and
our
board
and
membership
reflect
the
diversity
of
our
industry
all
across
the
commonwealth.
B
The
general
assembly
and
governor
beshear
should
also
be
commended
for
taking
important,
decisive
and
bipartisan
action
by
reinvigorating
kentucky's
signature
horse
industry
and
protecting
historical
horse
racing
senate
bill.
120
correctly
addressed
an
unfortunate
kentucky
supreme
court
ruling,
maintaining
the
status
quo
and
ensuring
a
strong
future
for
horse
racing
and
the
many
benefits
it
brings
to
the
commonwealth
as
a
whole.
B
The
direct
value
of
kentucky's
horse
industry
is
832
million
dollars.
There
are
nearly
eighty
thousand
direct
and
indirect
drop
jobs
provided
by
the
industry
and
industry
related
to
tourism.
24
000
of
those
are
direct
jobs
in
kentucky.
30.5
percent
of
households
are
home
to
a
horse
lover
and
of
those
38
percent
are
minors
and
young
people
compared
to
a
national
average
of
23
percent.
This
really
bodes
well
for
an
interest
in
our
industry
and
future
growth
for
the
horse
industry.
In
kentucky,
we
also
see
a
boon
in
economic
impact
from
out-of-state
supporters.
B
B
B
The
most
keenland
and
kentucky
downs
have
been
working
on
opening
their
newest
racetrack
locations
in
corbyn
and
corresponding
extensions
in
williamsburg
churchill.
Downs
just
announced
last
week
that
it's
renovating
seating
in
the
home
stretch
in
the
first
turn,
as
well
as
redesigning
their
paddock
and
turf
course
to
improve
racing
and
the
customer
experience.
B
Additionally,
churchill
downs
plans
to
add
new
space
to
derby
city
gaming
to
provide
new
amenities,
new
machines
and
a
five-story
tower
hotel.
The
project
is
expected
to
provide
400
new
construction
jobs
and
60
permanent
jobs,
thanks
to
the
passage
of
sb,
120
and
emergence
from
the
covet
19
pandemic.
B
B
B
One
horse
creates
many
jobs,
and
the
majority
of
these
jobs
are
not
jobs
that
can
be
automated
or
moved
overseas.
Their
jobs
they're
going
to
stick
with
our
industry
and
stick
with
kentucky
these
opportunities
come
through
ownership
and
their
business
support,
track
and
sales
jobs,
medical
and
maintenance
trainers
and
their
support
staff
with
growing
industry.
Thanks
to
historical
horse
racing,
the
number
of
horses
in
kentucky
will
continue
increasing,
bringing
many
more
jobs
to
kentucky
and
to
our
industry.
B
There
are
a
multitude
of
non-racing
breed
jobs
related
to
the
sport
horse,
industry
show
and
performance
events
and
competitions
that
happen
all
over
the
state
and,
as
you
know,
kentucky's
home
to
two
of
the
world:
renowned
veterinary
facilities
facilities,
haggard
equine
medical
institute
and
rude
riddle.
These
facilities
and
the
many
smaller
veterinary
offices
across
the
state
have
many
high-paying
professional
jobs.
B
Another
overlooked
aspect
of
the
jobs
in
the
industry
is
transportation,
in
addition
to
just
the
many
cdl
drivers
that
are
needed
to
transport,
the
horses
across
the
state
from
venue
to
venue
or
farm
to
farm
they
also
require.
It
also
involves
aviation
logistics
positions,
quarantine
facilities
and
all
of
those
require
support,
staff
and
mechanics.
B
Historical
horse
racing
provides
a
steady
stream
of
revenue
to
educational
programs
that
provide
collegiate
training
related
to
horse
handling
veterinary
medicine,
industry,
business
management.
Writing
and
more
kentucky
is
fortunate
to
have
so
many
programs
and
offer
so
many
different
opportunities
to
young
people
across
the
country.
B
In
addition
to
giving
more
kentuckians
a
boost
in
the
industry,
these
programs
also
attract
some
of
the
best
and
brightest
from
around
the
country
who
are
interested
in
our
industry
and
come
to
kentucky
through
the
keep
foundation
and
the
race
for
education.
We
provide
annual
scholarships
to
students
aspiring
to
study
in
kentucky's
equine
college
programs.
B
Many
of
the
applicants
we
receive
the
applications
we
receive
are
from
out
of
state.
Our
out-of-state
enrollment
is
significant
in
all
of
these
programs
across
the
state
with
so
many
young
people
coming
to
kentucky
every
year
because
they
love
the
horse.
Even
more
of
them
are
committed
to
staying
here
and
and
becoming
working
tax-paying
members
of
kentucky
without
historical
horse
racing.
The
ability
to
offer
these
many
programs
with
such
varied
opportunities
simply
wouldn't
exist.
B
Standard
bread
racing
tells
an
incredible
story
through
its
recent
and
tremendous
growth
thanks
to
historical
horse
racing.
As
you
see
here,
the
historical
horse
racing
has
truly
changed
standard
bread
racing
in
addition
to
two
new
standard
red
tracks.
At
oak
grove
and
corbin
we've
seen
growing
purses,
which
have
nearly
tripled,
which
more
purses
means
more
incentive
for
breeding
and
racing
horses
in
kentucky.
B
B
this
year
the
purses
have
increased
to
780
000.
44
growth
in
just
one
year
and
we're
seeing
increased
field
sizes
across
the
board.
That
means
that
more
people
are
buying
horses.
More
people
are
feeding
horses,
more
people
are
training,
horses
and
more
people
are
spending
money
in
kentucky
and
we're
not
talking
about
the
big
race
tracks.
We're
talking
about
the
fair
racing
fares
in
meets
in
ballard,
county
graves,
county,
mccracken,
county
washington,
county
and
many
other
counties
who
whose
ability
to
participate
in
the
horse
industry
has
been
resurrected.
B
B
Kentucky's
horse
industry
is
on
a
positive
trajectory.
Despite
the
recent
setbacks
from
the
kentucky
supreme
court
and
the
pandemic,
the
industry
has
continued
to
move
forward,
investing
and
growing
in
communities
across
the
state,
as
you
hopefully
have
seen
through
this
presentation.
Historical
horse
racing
plays
an
incredibly
valuable
role
in
all
of
this.
It
fuels
the
growth
of
our
industry,
more
jobs,
more
economic
benefit
will
follow.
B
G
Not
a
question
but
a
comment
and
a
point
I'd
like
to
follow
up
on.
Thank
you,
elizabeth
for
your
presentation,
and
I
want
to
go
back
to
the
schools
and
universities
that
we
have.
I
know
we
have
university
of
louisville
represented
here
with
us
today.
I'm
also
very
familiar
with
the
uk
equine
program.
That's
been
in
existence
now,
for
I
don't
know
14
or
15
years,
since
it
had
the
equine
program
going
there,
but
the
growth
and
retention
by
our
universities
has
been
absolutely
incredible.
G
Almost
80
of
the
graduates
are
staying
in
the
business
and
they're
staying
in
kentucky
and
we're
getting
a
lot
a
lot
of
outsiders
coming
here
and
they're
staying
because
they
love
the
horse,
and
I
just
think
that's
something.
We
really
need
to
pay
attention
to
the
you
know
we
have
an
industry
here,
that's
got
an
outside
draw,
bringing
in
some
of
the
best
and
the
brightest
coming
in
here
and
they're.
G
Staying
here,
david
schweitzer
and
I
were
talking
before
the
meeting
the
equine
program
there
at
uk
has
almost
a
63
percent
acceptance
rate
in
into
vet,
school
and
they're
going
to
vet
school
and
then
coming
back
and
standing
kentucky,
and
I
just
think
that's
incredible
what
we
have
going
on
there.
So
thank
you.
A
This
general
assembly
every
budget
year
appropriates
money
for
veterinary
slots
at
the
university
of
auburn
for
kentucky
students
and,
if
you,
if
you
go
around
and
check
the
veterinary
offices
at
least
the
ones
I've
been
into
most
of
the
vets
there
have
that
they
have
a
uk
undergrad
and
they
have
an
auburn
doctorate
in
in
veterinary
sciences
and
that's
something
that
again
that
wouldn't
be
a
program
if
there
weren't
race
horses
here
of
all
breeds
to
to
take
care
of
small
and
large
animal
vets
from
from
auburn.
A
The
university
of
louisville,
through
the
equine
program
that
we
discussed
last
month
through
a
portion
of
the
paramutual
tax
and
then
moorhead,
murray
and
western,
have
monies
allocated
to
them
by
statute
that
that
flows
through
the
council
on
post-secondary
education
and
chairman
kane,
and
I
are
discussing
at
a
future
meeting
hearing
from
the
universities
that
currently
receive
funds
statutorily,
as
well
as
the
university
of
kentucky
and
bctc,
which
have
requested
that
they
be
included.
A
E
Thank
you
sticking
with
the
education.
Do
we
know
how
many
students
are
in
these
programs.
E
A
A
As
elizabeth
noted,
there
are
many
here
and
some
that
you
wouldn't
think
of
offhand
that
are
benefited
by
the
racing
industry
and
I'm
going
to
ask
staff
to
make
sure
that
a
hard
copy
of
this
gets
placed
on
each
member's
desk,
the
ones
who
are
attending
virtually
and
then
the
other
one
one
of
my
favorite
graphics
would
be
the
one
racehorse
equals
many
jobs.
A
A
Look
at
all
these
jobs
that
are
provided.
I
mean
that
that's
a
very
compelling
slide,
and
I
also
like
to
note
and
chauncey
may
address
this,
but
it
was
just
announced
a
couple
of
hours
ago
again,
due
to
the
passage
of
senate
bill.
120
kentucky
downs
is
increasing.
Purses
by
eight
percent
for
its
fall
meet
coming
up
next
month
down
in
franklin,
kentucky
and
simpson
county,
and
the
presence
of
these
racehorses
in
kentucky
is
driven
by
purses,
and
I
said
last
month,
purses
are
the
mother's
milk
of
horse
racing.
A
It's
why
people
spent
60
million
dollars
on
yearlings
at
the
phasic
tipton
sale
last
month
here
in
lexington
and
wow
those
why
they
will
spend
another
couple:
hundred
million
on
bloodstock
of
all
ages
at
sales
at
keeneland
and
at
phasing
tipped
in
both
standard
bread
and
thoroughbred
over
the
next
couple
of
months.
So
those
are
two
really
important
slides
that
I
would
hope
the
members
would
continue
to
pay
close
attention
to
any
other
questions.
F
F
A
lot
of
this
was
replay
for
me
because
you
guys
did
an
excellent
job
in
in
the
recent
session,
in
association
with
senate
bill
120
and
making
sure
everybody
knew
exactly
what
you
what
you
showed
us
today,
and
I
want
to
thank
you
for
that.
My
question.
I
don't
know
whether
it
should
be
directed
to
you
or
not,
but
maybe
somebody
else
in
this
room.
F
Maybe
someone
up
there,
but
we
were
speaking
about
the
the
education
programs
and
how
successful
they
have
been
in
retainage
and
and
having
our
students
stay
here
in
kentucky,
and
I
know
in
in
my
city,
university
of
louisville
and
the
excellent
program
they
have
there
and
we
have
a
portion
of
the
tax
revenues
that
go
to
help
supplement
that
program,
and
I
do
know
there
is
a
cap
on
that
and
we
were
maxed
out
and
I
guess
my
question
is,
as
we
continue
to
explode
and
grow.
F
A
Well,
being
a
supporter
of
that
program,
I
could
address
it
by
by
saying
that
there
are
those
people
who
also
think
that
the
university
of
kentucky
and
bluegrass
community
and
technical
college,
which
are
also
focusing
on
equine
programs
that
are
creating
jobs,
that
they
should
be
included
in
some
of
that
money.
And
so
we're
gonna.
The
chairman
and
I
met
earlier
today
and
were
working
out
the
topics
for
the
remainder
of
this
task
force.
During
this
interim,
and
I
promise
you
they
will
be
illustrative
entertaining
illuminating
and
maybe
even
entertaining
representative
gentry.
A
I
believe
we
need
to
hear
from
bctc
and
uk
because
they're
developing
excellent
programs
without
any
support
from
the
general
assembly
and
they've.
Those
programs
have
been
created
since
the
30
or
40
year
ago,
creation
of
the
funding
for
the
uofl
equine
program,
and
I
think
they
should
be
considered
in
the
mix.
So
we're
going
to
give
everybody
a
chance
to
come
and
sing
for
their
supper.
A
I
see
my
longtime
friend
sean
byrne
here,
who
runs
the
uofl
program,
he'll,
be
given
a
chance
to
come
forward
and
talk
about
the
uofl
program,
but
I,
but
I
also
believe
bctc
and
uk
should
get
their
chance
their
opportunity
to
come
and
talk
about
why
they
should
deserve
some
of
those
some
of
those
dollars
very
well.
A
So
thank
you
for
bringing
it
up
a
very
salient
point
and
you
are
pressing
it
in
being
able
to
look
ahead
and
see
the
topics
that
the
chairman
and
I
are
going
to
bring
before
this
task
force.
A
A
D
I'm
chauncey
morris
kentucky
thoroughbred
association,
there's
a
little
box
here.
If
I
cancel
that
we'll
come
out.
D
D
A
D
All
right,
okay,
so
chairman
thayer,
chairman
koenig
members
of
the
committee,
as
ms
jensen
stated,
we
are
very
grateful
to
members
of
the
general
assembly
for
supporting
senate
bill
120,
something
which
is
an
additional
cornerstone
to
the
land,
people,
commercial
market
and,
ultimately,
the
horses
we
produce.
D
D
D
Earlier
this
year
we
dealt
with
new
emerging
infectious
disease
threats
during
the
falling
season
previously
unseen
and
afflicting
most
farms.
As
most
large
industries.
We've
had
to
deal
with
our
share
of
controversy
from
how
the
public
perceives
how
we
care
for
the
horse
in
modern
times
to
questions
of
integrity.
D
During
trying
times
we
have
not
only
adapted,
but
thanks
to
kentucky's,
competitive
business
environment.
We
have
thrived
through
major
reinvestment
in
infrastructure
for
horses
and
fans,
safety
and
integrity,
initiatives,
marketing
and
lots
of
hard
work
and
wise
management,
maintaining
let
alone
improving
race
tracks
is
expensive.
You
saw
those
those
values
that
elizabeth
had
there
on
her
presentation.
That's
not
happening
anywhere
else
in
the
united
states.
Currently
I'll
talk
a
bit
more
about
that,
but
that's
a
very
important
point
for
everybody
to
consider
and
we
are
calibrated
towards
the
existing
tax
code
because
of
it.
D
We
will
share
the
underlying
economic
indicators,
which
tell
the
story
about
racing's
foundation,
adaptation
and
ultimately
strong
position
for
future
growth
because,
as
we
know,
it's
one
thing
to
say:
we're
racing
for
x,
amount
of
purses
and
mason
maidens
are
going
to
run
for
this.
You
hear
that
number
and
it
might
sound
nebulous
if
you
are
less
than
a
casual
observer
of
our
sport,
and
I
will
tell
you
why
those
numbers
are
important.
D
D
As
with
so
many
things
here
in
this
state,
the
genesis
of
the
ktdf
involved
attracting
higher
quality
horses
first
by
insisting
that
there
be
no
restricted
racing
here,
an
owner
with
a
florida
bread
could
race
against
a
field
that
would
generally
be
populated
by
other
kentucky.
Breads
may
the
best
horse
win.
If
a
kentucky
bread
won,
then
it
would
receive
a
supplement
rewarding
excellence.
D
D
When
kentucky
downs
introduced
their
stakes
program,
strengthened
by
historical
racing
in
2012,
some
of
the
other
states
began
to
contract.
Owning
horses
is
a
100
percent
dependent
on
disposable
income.
It
is
a
disposable
income
decision
that
racehorse
owners
make
and
many
owners
in
states
with
restricted
racing
found.
Their
horses
lacked
value
outside
of
these
states
because
of
the
restricted
racing
programs
number
one
number
two.
Also
these
same
states
increase
the
amount
of
income
from
the
original
casino
operations
towards
their
general
funds
quietly,
but
firmly
kentucky
racing
has
gained
ground.
D
New
york
racing
has
always
been
the
strongest
biggest
owners,
full
fields,
the
most
attractive
wagering
product,
thanks
to
public
private
coordination,
since
covid
kentucky
racing
eclipsed
new
york
on
purses
for
the
first
time,
while
their
racing
remained
closed.
For
months,
we
have
used
historical
racing
revenue
wisely
by
attracting
better
horses,
making
better
fields
and
increasing
wagering
on
our
live
racing
product
and
when
I
say
full
feel
so.
D
This
chart
there
are
there's
monday
night
football
and
then
there's
a
super
bowl
in
thoroughbred
racing.
We
have
a
pyramid,
if
you
will
that
we
have
the
the
thousands
of
races
that
occur
any
given
day,
claiming
races,
optional,
claiming
overnight
races,
anything
and
then
it
gets
to
the
top
of
the
pyramid.
That's
the
american
graded
stakes.
You
can
see
via
this
graph
in
2012
that
we
and
new
york,
but
we
are
the
only
other
state
here
that
increased
our
level
of
grade
one
and
two
races.
D
D
This
is
five
years
old.
I
can
tell
you
that
salaries
are
up,
and
many
farms
and
stables
are
starting
at
15
per
hour
for
grooms.
Currently,
because
we
know
that
we
have
a
tight
labor
market
now,
elizabeth's
infographic
shows
all
those
bubbles,
and
everybody
has
often
questioned
the
quality
of
jobs
that
we
give
the
graduates
that
are
going
to
the
uk
undergrad
program
or
uofl
undergrad
program
that
are
then
going
to
auburn.
You
can
see
that
top
line.
This
is
what
they're
making.
This
is
the
type
of
contribution
they're
making
to
society.
D
This
is
the
only
type
of
economic
analysis
that
has
ever
come
up
with
specific
salary
information,
and
it
was
a
byproduct
of
cedic
information
studies
that
were
performed
for
land
use
in
both
fayette
county
and
woodford
county,
but
it's
illuminating
and
shows
you
just
how
good
of
a
quality
of
jobs
that
we're
providing
to
individuals
in
the
commonwealth
and
this
graph.
If
you
see
here
so
senator
thayer,
was
talking
about
the
mother's
milk,
which
is
prize
money.
That
prize
money
is
good
and
it
attracts
horse
fields.
It
attracts
horsemen.
D
You
look
at
a
condition
book.
A
trainer
says
to
the
owner.
I
want
to
start
your
horse
in
this
race
here
and
what
we
know
is
here
in
kentucky,
while
other
jurisdictions
have
contracted
here,
we
have
actually
grown
our
field.
So
not
only
has
the
historical
racing
product
been
a
net
gain
for
the
purses,
but
also
for
the
live
wagering
product
as
well,
making
it
far
more
competitive-
and
this
is
a
recent
ad
that
we've
been
using
there's
multiple
versions.
D
This
one
is
at
keeneland,
there's
also
one
version
to
kentucky
downs
and
churchill
downs
and
shows
that
this
fall
we'll
be
having
incredible
maiden
purses,
and
that
is
because
of
a
combination
of
historical
racing,
the
investment
that
historical
racing
has
made
to
association
and
ktdf
purses
and
also
because
of
the
viability
of
the
live
racing
product.
D
So
paramutual
french,
four
between
basically
you
and
I
everything
goes
into
a
pot.
You
know
when
you
increase
the
number
of
of
betting
opportunities,
that
the
pot
can
grow
larger
and,
conversely,
payouts
also
grow
bigger.
Whenever
you
you
cash
out,
there's
a
sweet
spot
of
of
10.
If
you
get
into
the
economics
of
of
wagering
on
on
anything
but
specifically
on
on
horse
racing
that
when
you
get
to
that
point,
that
bettors
will
climb
hand
over
fist
in
order
to
get
the
value
in
the
market.
D
A
D
But
this
is
this
is
the
last
part
in
my
conclusion,
but
what
senator's
saying
is
absolutely
correct:
kentucky
racing
will
remain
competitive
based
on
our
current
tax
rates.
We
believe
these
numbers
we
shared
today
paint
a
rosy
picture,
but
right
now,
states
like
arkansas
and
new
york
are
planning
to
cut
into
our
success,
attracting
our
inventory
of
racehorses
fueled
by
profitable
forms
of
gaming,
which
return
less
proceeds
to
the
patrons.
A
So
it's
I
think,
for
the
education
of
the
members
you
talked
of
this
earlier.
It
used
to
be
the
biggest
horseman
would
come
for
the
two
keenland
meets
and
derby
week
and
then
they'd
go
back
to
new
york
or
california,
yes,
sir,
but
now
what
we're
seeing
is
those
trainers
are
leaving
divisions
here
year
round
and
the
weak
spots
in
terms
of
the
circuit
being
major
league
used
to
be
ellis
park
and
turf
way,
but
that's
now
changing.
D
Elaborate
on
that
absolutely
so
everything
that
senator
thayer
said
is
correct
and,
moreover,
you
find
that
people
not
only
are
leaving
satellite
operations
here.
I
don't
want
to
use
specifics,
but
we
have
so.
Let
me
show
you
a
graph
here.
This
is
this
is
most
indicative
of
it.
D
But
what
we
see
is
horses
of
racing
age
indicators
ticking
up
number
one
number
two:
there
have
been
some
major
owners,
major
trainers
that
are,
we
find
themselves
they've
purchased
homes
in
either
lexington
or
louisville.
They
have
established
training,
centers
or
bought
farms
in
this
area,
because
they
know
that
they
are
going
to
stay
here
more
time.
Number
two
right.
D
Now
it's
pretty
complicated
to
find
stall
space
here
in
kentucky,
because
each
of
our
tracks
from
ellis
kentucky
downs,
churchill,
downs,
turf
way,
which
is
being
totally
rebuilt
and
keenland,
are
making
major
reinvestments
to
either
their
principal
places
of
operation
or
satellite
training
centers
like
the
thoroughbred
center,
in
order
to
increase
the
stall
size,
because
we
know
that
these
are
strategic
investments,
that
there
are
more
out-of-state
horsemen
and
women
that
are
wanting
to
come
here
and
race
year-round,
and
it
was
actually.
D
If
you
look
in
the
past,
the
the
keeneland
spring
meet
was
really
the
one
that
had
to
struggle
and
and
hustle
horses
fall
because
of
breeders
cup
winning
your
end.
That
would
really
kind
of
take
care
of
itself.
But
right
now
we're
in
a
place
where
everybody
wants
to
be
here.
The
condition
books
for
our
racetracks.
D
D
A
So
the
condition
book
is
a
book
that
has
a
list
of
upcoming
races
at
a
specific
track.
What
the
purses
are,
what
the
conditions
of
the
races
are,
so
you
can
know
if
your
horse
qualifies
what
the
distance
is,
what
the
track
surface
is
what
what
the
gender
is,
if
it's
restricted
to
phillies
or
mares,
so
trainers
can
point
ahead
of
time
for
that
particular
race.
Yes,
sir,
the
really
substantive
portion
of
this
is
the
fact
that
we
in
kentucky
have
eclipsed
the
total
purses
offered
in
new
york,
california
and
florida.
A
Not
only
are
these
states
that
have
a
lot
more
population
than
we
do,
but
two
of
them
new
york
and
florida
have
purses
propped
up
by
casino
proceeds.
Now,
as
chauncey
did
say,
we
did
have
an
advantage
last
year
because
we
were
open
more
than
some
of
them,
but
it's
still
pretty
darn
significant
and
I-
and
I
think
it
will
continue
because
of
because
of
the
actions
of
this
general
assembly.
D
D
F
The
presentation-
yes,
sir,
the
slide
you
got
up
there
right
now.
I
wish
it
went
back
further
because
it
would
tell
the
whole
story
of
hhr.
F
You
know,
and
but
I
I
understand
why
you
have
it
there,
because
it
really
shows
the
picture
of
hhr
after
it
came
in,
but
you
see
some
of
them
other
states
arkansas.
You
know
that
kind
of
shot
up
way
prior
to
these
these
times,
so
it
actually
gives
a
bigger
picture.
But
anyway
I
was
just
making
that
comment.
But
let
me
go
to
a
question
I
think
would
be
helpful
for
for
everybody
watching
and
everybody
that
participated
in
the
meeting
last
week.
Can
you
talk
a
little
bit
about
the
thoroughbred
fund.
F
Obviously,
there's
a
great
deal
of
investment
that
goes
into
that
fund.
It's
really
helped
us
in
kentucky.
Can
you
talk
a
little
bit
about
the
fund?
How
healthy
it
is
compared
to
what
it
was?
You
know
10
12
years
ago,
when
there
was
a
governor's
task
force
looking
at
this
area,
absolutely
and
just
in
general
talk
about
where
those
fees
go
and
and
and
what
it
does
to
to
help
the
industry.
Yes,.
D
Sir,
absolutely
we
can
do
that
first
off.
I
would
tell
you
that
in
2020
the
we
paid
out,
the
commonwealth
paid
out
17.5
million
dollars
in
kentucky
thoroughbred
development
fund
supplements
number
one
number
two
in
2012,
the
number
that
was
paid
out
was
six
million
dollars.
D
So
you
show
that's
what
the
the
gain
has
been
number
one
number
two.
Of
course
we
could
prepare
this
slide.
That
goes
back
way
way
back
and
actually
what
I
would
show
you
is
if
we
could
juxtapose
some
of
those
jurisdictions
pennsylvania
louisiana
where
their
state
programs,
they
were
very
competitive
in
2012.
D
they're,
not
so
competitive
right
now,
because
of
the
reasons
it
wasn't
only
one
reason,
but
because
of
multiple
reasons
that
I
pointed
out,
but
as
far
as
ktdf,
how
it
works,
how
it's
paid
out
it's
0.75
of
the
paramutual
tax,
it
occurs
on
on
track,
itw,
simulcasting
and
obviously
historical
horse
racing.
It
does
not
occur
on
advanced
deposit
wagering,
but
those
are
the
pre-present
economics
of
where
we
are
right
now.
A
There
was
a
lot
of
great
grave
concern
because
I
mean
it
was
really
threatening
the
foundation
as
other
tracks
supplemented
their
purses
from
their
casino
profits,
developed
very
lucrative
state
bred
programs,
which
were
the
restricted
races
that
chauncey
mentioned
where
in
indiana
pennsylvania,
new
york,
florida
maryland,
you
know
you,
you
could
run
a
very
for
a
very
lucrative
purse
with
a
horse
bred
in
that
state
and
it's
generally
considered
to
be
easier
racing
and
that's
why
people
would
would
try
it
and
they'd.
A
So
you
know
we
were
at
a
very
bad
competitive
disadvantage,
but
now
we
have
a
tremendous
advantage
and-
and
I
don't
I
don't
want
to
disparage
any
other
state,
but
those
other
states
that
that
were
mentioned
in
this
have
some
systemic
problems
endemic
to
to
their
their
states
and
their
situations
there
that
are
hindering
their
growth.
A
There's
a
in
new
york,
for
example,
there's
a
very
bad
workers,
compensation
problem
that
trainers
are
facing
there,
where
it's
very
difficult
to
stay
in
business
because
of
the
high
cost
of
workers
comp
and
it's
driving
some
trainers
out
of
the
business,
and
you
know
we
have
to
take
adv.
We
have
to
take
advantage
just
like
they
took
advantage
10
12
years
ago.
D
Chauncey,
when
these
horsemen,
specifically
from
new
york
and
california
that
have
relocated
here,
that
is
precisely
what
they
say,
is
kentucky's.
Business
environment
is
far
more
it's
it's
far
more
user-friendly
and
forget
about
the
purses
for
a
second,
but
it's
things
like
workman's
compensation
and
insurance
and
all
of
the
some
of
the
things
that
you
did
a
few
sessions
ago
and
senate's
bill
bills,
one
and
two
that
these
are
public
policy
achievements
that
have
rendered
not
only
advanced
manufacturing,
competitive
but
also
kentucky
breeding
and
racing
competitive
as
well.
A
Any
other
questions
for
chauncey
about
the
thoroughbred
industry
in
particular.
It's
it's,
I
think,
it'd
be
good
for
you
to
elaborate
on
the
point
that
the
thoroughbred
industry
is
really
two
industries
that
are
codependent
the
breeding
side
and
the
racing
side.
As
I
mentioned
earlier,
people
wouldn't
have
come
from
all
over
the
world
and
spent
60
million
dollars
on
yearlings,
many
of
them
kentucky
bred
if
there
weren't
race
tracks
for
them
to
run
at
so
they
they
are
separate,
but
co-dependent
industries
that
combine
into
one
enormous
signature
industry.
Could
you
elaborate.
D
D
Force
absolutely
I'd
be
happy
to.
There
is
very
much
a
nexus
between
breeding
and
racing
in
2008.
If
you
see
the
kentucky
full
crop
here
we
had.
This
is
obviously
when
the
the
stock
market
crashed
and
that
year
the
september
yearling
sale
lehman
brothers
actually
crashed
in
the
second
week
of
the
september
yearling
sale.
So
the
commercial
market
wasn't
so
disruptive
it's
disrupted
that
year
in
2009
there
was
a
50
percent
correction.
D
D
We
have
a
lot
of
turf
sires
here,
so
people
would
take
a
chance
and
they
would
put
together
partnerships
that
would
my
my
former
president
braxton
lynch
who
had
testified
to
senate
l,
yeah,
senator
or
interim
joint
committee
of
lno
a
few
months
ago.
D
She
was
one
of
these
that
put
together
these
partnerships
under
bbn
racing
that
started
specifically
focusing
on
kentucky
down,
and
then
the
commercial
breeding
market
got
better,
but
still
that
attraction
of
having
horses
in
training,
because
it
was
a
little
cheaper
to
do
it
here.
In
kentucky
versus
new
york
florida,
california,
it
became
attractive
number
one
number
two
we
have
because
the
state
has
natural
and
generational
advantage.
As
far
as
the
commercial
breeding
market
is
here,
many
of
the
larger
breeders
in
the
united
states
stone
street.
What
have
you?
D
They
are
not
only
racing
operations,
they
are
also
breeding
operations.
They
have
large
racing
stables
around
the
country.
They
have
noticed
that
the
racing
has
improved
here
in
kentucky.
They
are
spending
more
time
here
in
kentucky.
Therefore,
it's
important
for
them
to
start
more
horses
here
in
kentucky
and
there's
lots
of
reasons
to
do
that
now.
A
A
Very
well,
thank
you,
chauncey
for
your
excellent
presentation.
Thank
you.
Everyone.
I
will
also
ask
the
staff
to
have
the
hard
copy
of
chauncey's
presentation
delivered
to
the
deaths
of
the
members
who
were
online
today.
The
next
meeting
is
september
13th.
We
right
now
have
a
plan
for
three
more
meetings.
The
chairman
and
I
met
earlier
today
and
discussed
some
of
the
topics
we.
A
As
you
know,
we
we
talked
about
delving
into
the
the
disposition
of
the
funds
by
statute,
those
who
currently
receive
those
who
would
like
to
receive.
We
may
have
a
meeting
where
we
hear
from
them.
We
may
talk,
and
this
is
new.
We
may
talk
to
the
racetracks
about
having
them
come
in
and
and
go
a
little
deeper
into
the
one
page
in
the
powerpoint
about
their
construction
plans.
What
that
means
in
terms
of
temporary
jobs,
what
that
means
in
terms
of
of
of
permanent
jobs.
So
that's
something
we're
working
on.
A
A
I
believe
for
seven
or
eight
years
and
they're
they're
bringing
people
from
all
over
the
country,
just
like
the
bourbon
trail
to
tour
our
horse
farms,
our
race
tracks,
our
our
feed
mills,
our
veterinary
clinics,
so
we
may
reach
out
to
them,
and
then
the
chairman
and
I
are
still
working
on
a
potential
agenda
regarding
the
you've
heard
us
talk
about
the
the
the
big
elephant
in
the
room
that
we've
been
very
clear
about
and
open
about,
and
that's
the
1.5
tax
rate,
which
is
a
tax
on
gross,
and
I'm
going
to
continue
to
mention
that,
because
the
tax
on
gross
is
very
different
than
a
tax
on
net,
and
we
may
hear
some
testimony
from
various
points
of
view
on
what
the
effective
tax
rate
is,
the
net
tax
rate
once
you
compute
the
payouts
of
the
money
going
back
to
the
bettors
and
the
money
going
to
purses,
etc.
A
So
we're
continuing
to
work
on
what
we
hope
is
an
educational
agenda.
Moving
forward
and
we'll
try
to
nail
that
down
and
let
you
know
as
we
finalize
it
any
other
questions.
Then,
for
the
day,
I've
tried
to
stick
with
chairman
chickel
and
chairman
koenig's
desire
to
have
one
hour
committee
meetings
and
for
a
guy
who
hasn't
run
a
committee
since
2012.
A
I
think
we've
done
pretty
well
on
that
today,
chairman
koenig
said
he
doesn't
care
about
that,
but
I
know
that
chairman
chickel
does
and
since
he's
a
member
of
my
caucus,
I
care
about
what
he
says
very
well.
Is
there
a
motion
to
adjourn
emotion
from
representative
cook?
Is
there
a
second
second
from
representative
gentry,
all
in
favor
say
aye
aye?