Senate Committee Approves Tax District Around Indianapolis Speedway
By: Chris Veech
Updated: February 14, 2013
A plan to provide public funding for up to $100 million in improvements at the Indianapolis Motor Speedway takes another step through the legislature. A senate committee unanimously voted to approve a tax district around the track to generate money. The plan would tap $5 million a year from tax collections to pay off bonds over a 20 year period, with the speedway paying about $2 million a year. Track officials plan to improve the grandstand and add lighting, so night races could be something they can do in the future.
