Indiana Senate Committee Passes Bill On IMS Taxing District
The Indiana Senate Appropriations Committee today unanimously passed a bill that "would capture state tax money generated at Indianapolis Motor Speedway and give it back to the track to improve the facility." The bill would tap $5M a year in tax collections to pay off bonds over 20 years, with the track paying about $2M a year. IMS President & CEO Jeff Belskus said that the track plans $120M in capital improvements, and "some of those efforts will be rolled out this spring" (IBJ.com, 2/14). The bill now goes to the full state senate (INDYSTAR.com, 2/14).