(Des Moines) Greenfield Republican Representative Clel Baudler doesn’t agree with extending a Sales Tax Rebate to the Iowa Speedway.
“They are talking about a sales tax exemption in Newton up to $9 million and we’ve already given them a sales tax exemption when it opened,” stated Baudler. “And now NASCAR bought it and they want a sales tax exemption again? I am thinking where are we going to stop.”
A three-member Senate Ways and Means Committee approved Senate Bill 3162 last week which foregoes the previous requirement that the track be an Iowa-owned entity. The reasoning behind this is that the new owner is an Iowa LLC and that the track has a substantial economic benefit both locally and statewide. The proposed state sales tax exemption at the Newton track could potentially be extending the sales tax benefit until 2026.
February 17, 2014
11:00 a.m. news