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May 10, 2013  |   By Media Release

Indianapolis Motor Speedway Statement About House Enrolled Act 1544

A statement from Mark D. Miles, chief executive officer of Hulman & Company, about House Enrolled Act 1544, which Gov. Mike Pence signed Friday, May 10:

"We're gratified to have the support of Governor Pence and the General Assembly. The success of this legislation reflects their broad understanding of the Indianapolis Motor Speedway, its impact on the state’s economy and our prospects for growth. The company is committed to doing everything possible to produce a return for taxpayers. We’ve been humbled by the overwhelming enthusiasm we’ve received from Hoosiers as we’ve gone through the legislative process.”

House Enrolled Act 1544 creates an Indiana Motorsports Investment District that will capture growth in sales and income taxes at the commercial property that includes the Indianapolis Motor Speedway for future investment in the Speedway. In addition, the Indiana Economic Development Corporation (IEDC) will oversee a fund for motorsports businesses statewide to apply for loans to assist with economic development projects and facility improvements.