Touted as one of the most significant policies ever put forward to strengthen the horse economy in Texas, this new statute reinvests up to $25 million dollars annually that are generated by the Texas horse and agricultural industry back into the continued growth of that industry.
This legislation aims to greatly enhance the racing and all horse disciplines by creating a Horse Industry Escrow Account through which, breed associations will apply for the available funding to support initiatives that grow the horse and agricultural economy in Texas.
It is estimated that this reinvestment in the state’s horse industry will generate 1,800 new permanent jobs in our state.
In addition to creating the largest purse structure seen in Texas for all breeds since 2000, the funding will be used for other disciplines as well.
Current proposals for use of the funds range from supporting 4-H horse programming and strengthening the traditions of barrel racing to assisting with veteran riding therapy programs and creating the largest incentives ever seen for horses bred right here in our state – not in Oklahoma, Louisiana or New Mexico.