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Another significant occurrence which should be of great benefit to the horse industry in Virginia is the release of funds allocated for use through the Breeder Incentive Program.
The BIP, legislation for which was initially proposed as the result of a study by the General Assembly in late 1980, and signed into law early in 1981, hit a snag at the last minute when funds were struck from the budget. Finally, after much work on the part of Virginia horsemen in convincing the legislature of the need to recognize the breeding of outstanding horses in the state, funds were released.
Up to $100,000 will be made available annually, with financial awards going to eligible nominees from all breed associations fulfilling requirement* of the program, one of which is the matching of public funds dollar for dollar by private funds. The Virginia Hunter Futurity also embarked upon its inaugural year in 1982. with a tremendous response of 112 nominations. The late summer of 1983 will see the first crop of Virginia-bred yearlings compete for top
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