Senate Approves Bill for Improvements to Indianapolis Motor Speedway
The Indiana State House is the only hurdle left to create a tax district at the Indianapolis Motor Speedway.
If approved, $5 million in public funding will be awarded to the track for capital improvements. The move also allows state sales and income tax collected within the IMS property to be appropriated to the track as well. In addition, the speedway would contribute up to $2 million per year in funding bringing the grand total to IMS improvements per year to a guaranteed $7 million.
Among the improvements people would like to see – lights for night racing and jumbo-trons.
