3.2-106 - Horse breeder incentive program. - Virginia Statutes

§ 3.2-106. Horse breeder incentive program.

A. It is the policy of the Commonwealth to encourage the growth of allsegments of its agricultural industry. The General Assembly finds that thehorse breeding industry has a significant impact on the Commonwealth'seconomy and that it is to the Commonwealth's benefit to encourage, expand,and develop horse breeding farms with programs providing financial incentivesto breeders that will encourage and supplement private capital.

B. To the extent that public or private funds become available, theDepartment may establish a program of financial incentives designed toencourage, expand, and develop the breeding of horses in the Commonwealth.The Department shall adopt appropriate regulations for the administration ofthe program. Such regulations shall provide for the distribution of financialawards to breeders only to the extent that public funds made available to theDepartment for the program are matched dollar for dollar by private funds.The regulations shall also provide that no single breeder shall receive, inany one calendar year, more than 10 percent of the public funds madeavailable to the Department for the program during that year. Awards madeunder any such incentive program shall be limited to horses foaled in theCommonwealth that are owned by breeders who are actively engaged in thebreeding of horses in the Commonwealth.

(1981, c. 140, § 3.1-741.2; 2008, c. 860.)