SPEEDWAY REBATE: Bill Approved By Committee

speedway

A bill that would give a multi-million dollar tax break to the Iowa Speedway is moving forward.

The Newton track has received a rebate on state sales tax since it opened in 2006, but that was under the condition it was partially owned by Iowans.

Last year the track was sold to NASCAR and now no Iowans have a stake in it.

A bill approved by a Senate committee Thursday would renew and extend the rebate to NASCAR.

The bill must still clear the full Senate, House and be signed by the governor.

Follow

Get every new post delivered to your Inbox.

Join 855 other followers