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Bill would create equine-industry account, tax credit to offset federal HISA fees, lawmakers hear testimony
Summary
SB 5,610 would create a capped Washington Equine Industry Federal Regulatory account, fund it with equine-related sales taxes up to $1.5 million annually and allow a tax credit to offset federal HISA fees or state commission fees; Emerald Downs and horsemen’s groups urged support citing federal compliance costs.
Senate Bill 5,610 would create a Washington Equine Industry Federal Regulatory Account to help the state’s horse-racing industry pay federal fees under the Horse Racing Integrity and Safety Act (HISA) and would establish a tax credit to offset payments to HISA or the Washington Horse Racing Commission. The account would be funded by sales and use tax receipts on a defined set of equine-related goods and services, subject to an annual transfer cap of $1.5 million (adjustable for inflation and federal fee levels).
Senator Claudia Kauffman, sponsor of SB 5,610, said the bill aims to provide targeted relief for a sector…
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