Washington HB1703 establishes a tax credit for the equine industry, allows the horse racing commission to impose fees, and uses sales tax revenues.

Washington HB1703 introduces a tax credit for the equine industry, allowing those licensed to conduct race meets to claim credits for payments made to the federal horseracing integrity safety authority. The bill also empowers the horse racing commission to impose fees deemed reasonable and appropriate to cover federal fees and comply with the horseracing integrity and safety act of 2020. Additionally, it mandates the transfer of sales tax revenues from equine products and services to a dedicated federal regulatory account, which can only be used for federal compliance purposes.

Washington HB1703 establishes a tax credit for the equine industry, allows the horse racing commission to impose fees, and uses sales tax revenues.

Washington HB1703 introduces a tax credit for the equine industry, allowing those licensed to conduct race meets to claim credits for payments made to the federal horseracing integrity safety authority. The bill also empowers the horse racing commission to impose fees deemed reasonable and appropriate to cover federal fees and comply with the horseracing integrity and safety act of 2020. Additionally, it mandates the transfer of sales tax revenues from equine products and services to a dedicated federal regulatory account, which can only be used for federal compliance purposes.