H-4885.1  _______________________________________________

                    SUBSTITUTE HOUSE BILL 1447

          _______________________________________________

State of Washington      55th Legislature     1998 Regular Session

By House Committee on Finance (originally sponsored by Representatives Robertson, L. Thomas, Clements, Kastama and Cooke)

Read first time 02/04/98.  Referred to Committee on .

Providing tax exemptions related to thoroughbred horses.

    AN ACT Relating to tax exemptions related to thoroughbred horses; amending RCW 82.04.350; and providing an effective date.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

    Sec. 1.  RCW 82.04.350 and 1961 c 15 s 82.04.350 are each amended to read as follows:

    This chapter shall not apply to any person in respect to:

(1) The business of conducting race meets for the conduct of which a license must be secured from the horse racing commission; or

(2) Amounts received for racing, raising, riding, exercising, grooming, breeding, training, or selling thoroughbred race horses, including but not limited to amounts received from purse winnings or awards.

NEW SECTION. Sec. 2.  This act takes effect July 1, 1998.

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