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KEEP board approves resolution urging tax equity for Kentucky's horse industry

The Board of Directors of the Kentucky Equine Education Project – KEEP – unanimously approved a resolution calling for equine tax equity for Kentucky’s horse industry. The board also approved the formation of an Equine Tax Equity Task Force appointing Frank Penn as chairman.

Consideration of the organization’s equine tax equity policy took place during the board’s July 30 meeting, held at the Kentucky Horse Park. Equine tax equity will be KEEP’s top priority during the 2016 legislative session.

“The board’s action demonstrates that KEEP represents all aspects of the equine economy, regardless of breed or discipline,” said Corey Johnsen, KEEP chairman and president of Kentucky Downs, in a press release. “It’s no secret that Kentucky is long overdue for tax reform and we will make a strong case for including equine tax equity as part of any reform proposal. Over the next few months, we’ll work to ensure that our next Governor and the Legislature understands the critical role horses play in Kentucky’s economy.”

The Equine Tax Equity Task Force will include a broad-based coalition of horse industry leaders and representatives from outside the industry that recognize the importance of equine agriculture to Kentucky’s overall economy. KEEP board members joining Chairman Frank Penn on the task force include Buff Bradley, Joe Costa, Corey Johnsen, Andre Regard, Bennie Sargent, Fred Sarver and Rich Wilcke.  

Additional non-board members will be added in the coming weeks to assist in advancing this effort toward the state legislature’s consideration of the issue.

“It’s a matter of fairness,” said Penn, owner of Pennbrook Farm. “Caring for horses is not any different from raising other livestock animals,” he added. “Equine tax equity will boost Kentucky’s economy, through increased equine activity as well as the accompanying indirect impact. I look forward to building a strong coalition of those inside and outside the equine industry to lead the charge in working with policymakers in Frankfort.”

The resolution follows:

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