Governor reveals gaming proposal - Dayton Business Journal:

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That is one of the detailsw ofthe governor’s proposed VLT legislation, whicbh was revealed Tuesday. Startintg Jan. 1, 2010, taxpayers would get an individuall income tax credit equal to 50 percenf of the tax they pay ontheir vehicles, not to exceed $500 per tax The credit would cost the state about $30 millionb annually. Starting Jan. 1, 2011, active duty militaru personnel would be exempt from individuaplincome tax, which would cost the statse about $18 million annually.
Currently, actived duty personnel are exempted from paying incomer tax only when they are serving in a combat In a press Beshear said he hoped his plan would help retaibthe 100,000 jobs and $4 billiob in annual economic impact that “Kentucky’sz signature horseracing industry” gives to the state. Fourteen and a half percent of the revenue generateds from VLTs would support equine interests through purse supplements and other One percent would go to a newly created EquindeBreed Authority, which would promote non-racin g breeds and economic development opportunities within the Each track would pay an initial application fee of plus license fees that would generatew $360 million for the state’s General Fund.
Licensintg would be for 10 years withsubsequentf five-year renewals. would pay an initiaol application feeof $25,000 plus an additiona license fee of $75 million, as wouldd Lexington’s Keeneland/Red Mile track. Florence’s Turfwau Park would pay the highest license fee inthe $100 million.