The Florida Senate's Finance and Tax Committee has advanced a tax cut proposal to the full Senate which would provide the state's racetracks with credits based on HISA assessments, but a similar bill in the Florida House does not include those tax breaks, reports the Thoroughbred Daily News.
The Senate bill proposes tax credits granted to Gulfstream Park and Tampa Bay Downs which would be equal to the amount each track paid in the prior state fiscal year to the federal HISA Authority.
In its proposed budget for 2023, HISA assessed $5.2 million to Gulfstream and $1.2 million to Tampa Bay Downs (though those budgets assumed the implementation of the anti-doping program which has since been delayed by the courts).
“We want to make sure that the equestrian community thrives and continues to be an economic boom for the state,” said Senate tax committee Chairman Blaise Ingoglia.
Read more at the Thoroughbred Daily News.
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