Governor Matt Bevin joined state legislators and thoroughbred horse racing officials at Louisville's iconic Churchill Downs today to sign House Bill 259.
The bill strengthens the commonwealth's bid to become a regular stop for the Breeders' Cup World Championships, which is a two-day, $30 million industry showcase. The bill makes permanent a tax exemption that was temporarily put in place ahead of the 2015 Breeders' Cup event at Lexington's Keeneland race course and had expired late last year.
Churchill Downs will host the 2018 Breeders' Cup World Championships on November second and third, marking the ninth time the historic track has hosted this event.
The Breeders' Cup is expected to draw tens of thousands to Kentucky to see the world's top thoroughbred horses compete in the racing season's grand finale.