Governor reveals gaming proposal - Dayton Business Journal:

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That is one of the details of the governor’a proposed VLT legislation, which was revealed Tuesday. Starting Jan. 1, taxpayers would get an individual income tax credit equal to 50 percenyt of the tax they pay ontheir vehicles, not to exceed $500 per tax The credit would cost the state about $30 milliobn annually. Starting Jan. 1, 2011, active duty militaryg personnel would be exempt from individualincome tax, whichg would cost the state about $18 million Currently, active duty personnel are exemptex from paying income tax only when they are servin in a combat zone.
In a press Beshear said he hoped his plan woul d help retainthe 100,000 jobs and $4 billion in annual economi c impact that “Kentucky’s signature horseracing gives to the state. Fourteen and a half percent of the revenu generated from VLTs would support equine interests through pursw supplements andother incentives. One perceny would go to a newly created EquineBreed Authority, which woule promote non-racing breeds and economic development opportunities within the Each track would pay an initial application fee of plus license fees that woulsd generate $360 million for the state’s General Fund. Licensinb would be for 10 years with subsequent five-year renewals.
would pay an initial application feeof $25,000o plus an additional license fee of $75 as would Lexington’s Keeneland/Red Mile Florence’s Turfway Park would pay the highestf license fee in the state, $100 million.