January 31, 1995 in City

Bill Grants Tax Break To Build Horse-Racing Track

Compiled From Wire Services
 

A bill sponsored by House Trade and Economic Development Committee Chairman Steve Van Luven would provide a tax break to build a thoroughbred horse-racing track in Western Washington.

Van Luven’s bill, HB1248, would defer retail sales and use taxes for 10 years on all materials, equipment and labor used to build or equip a track. The deferments would come after the Washington Horse Racing Commission issues an operating license to the new track.

At the end of the 10 years, the taxes would be repaid in the following five years, without interest.


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