Taxing district proposed for Indianapolis Motor Speedway

INDIANAPOLIS -- A long-standing tradition could be coming to a screeching halt at Indianapolis Motor Speedway.

The track no longer takes taxpayer money but a new bill introduced Monday proposes the creation of a taxing district around the Speedway.

It would help pay for improvements including lights.

The lawmaker behind the bill says those changes could help the speedway bring in more races and help boost its attendance.

"We have a chance here to attract more races and also fill the stands. And lately, especially in the Brickyard because it's run in the hottest time of the year, have been losing ticket sales," said Senator Michael Young.

State income sales and corporate taxes from the proposed district would be combined with speedway money. That would help pay off bonds for improvements over a 20 year period.