IMMEDIATE LEGISLATIVE ACTION NEEDED! SB226. HB585. HB588.

Dear Breeders,

There are several items proposed in the current Louisiana Legislative Session which will have an immediate negative impact on our industry. SB226, HB585, HB588, would redirect 50%-100% of video poker and slots at the racetrack, purse supplements, and breeders incentive awards out of current dedicated funding.

Our most effective defense against these devastating actions is for as  many of our members as possible to contact your state representatives and senators.  Below I have outlined several talking points with which to persuade your legislators in our favor.

Talking points.

  • The breeding and racing incentive program does not cost the state treasury any money. All money is derived from video poker franchise fees and slots at the racetracks. Some of the money comes from out of state patrons.
  • The total direct injection of revenue from the Louisiana horse racing industry into Louisiana’s economy for the fiscal year ending June 30, 2016 was $578 million.
  • When both direct and indirect impacts are included, the Louisiana’s horse racing industry generated $1.047 billion in total output.
  • Louisiana horse racing created a total of 12,640 Louisiana jobs.
  • This translates into $328 million in earnings generated during the most recent year.
  • Louisiana received over $64 million directly from the horse industry in state taxes during the fiscal year ended June 30, 2016.
  • When taxes generated indirectly are included, state tax revenues from horse racing are over $73 million.

The bills and their specifics are listed below:
SB226
Author: Senator Sharon Hewitt
http://senate.la.gov/senators/senpage.asp?SenID=1
Referred to Committee on Finance.
Click here for a list of Committee members.
http://senate.la.gov/Finance/Assignments.asp

Eliminates certain statutory dedication of Video Draw Poker Device Purse Supplement Fund and Pari-mutuel Live Racing Facility Gaming Control Fund and all recipient funds.
Negative impact: Takes all money from racing and breeding incentive program.

HB 588
Author: Representative Jay Morris
http://house.louisiana.gov/H_Reps/members.aspx?ID=14

The Bill is referred to the Appropriations Committee.
Click here for a list of Committee members
http://house.louisiana.gov/H_Cmtes/Appropriations.aspx

Proposes that 50% of video poker funds be used for TOPS.

  • The negative impact is a loss of thousands of jobs.
  • It would decrease purse supplements by $ 1million currently directed to Louisiana bred only horses. Most of these horses are bred by Louisiana citizens.
  • It would result in smaller purses in races restricted to Louisiana bred horses.
  • Diminished purse money means less money won by Louisiana horse breeders and owners.

It would result in a significant decrease in the need to buy and race Louisiana bred horses.
It would decrease revenue to breeders and owners that would result in a proportionate job loss.

HB 585
Author: Representative Jay Morris http://house.louisiana.gov/H_Reps/members.aspx?ID=14

The Bill is referred to the Appropriations Committee.
Click here for a list of Committee members
http://house.louisiana.gov/H_Cmtes/Appropriations.aspx

Proposes that 50% of slot revenue from the racetracks be used for TOPS.

  • All of the above applies at a much larger negative impact to the horse industry and reduction of jobs statewide in Louisiana.
  • Guts the racing industry and resulting horse industry.
  • Potential exit of national race track owners in Louisiana that could result in the industry returning to pre-slots at the track conditions: the industry was dying and on the verge of closing.

In the past, because you have taken an active role, we have been able to put the brakes on legislation that has targeted our monies. The power of numbers is much stronger than one individual. I am asking you to once again be active participants in safeguarding the thoroughbred industry in Louisiana. We sincerely appreciate your continued support!

For more information, please call 1-800-772-1195 or visit louisianabred.com.