Shifting Gears: Indiana Motor Speedway Won’t Receive Funds from Racinos

by | 04.22.2013 | 3:57pm

Indiana lawmakers continue to work on legislation that would help Indianapolis Motor Speedway finance some much-needed improvements. One source of funding that had been under serious consideration was transferring revenue from racinos to the motorsports industry, rather than that money going back into horse racing.

According to the Indianapolis Star, Indiana House Ways and Means Committee Chairman Tim Brown had hoped to link a proposed bill to earmark funds from racino revenue to make improvements to the Speedway.

However, Sen. Mike Young told the press Monday morning that he would not agree to that proposal. He said he preferred the original measure, which would have the state contribute up to $5 million annually for 20 years toward improvements to the Speedway.

Read more in the Indianapolis Star

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