Sec. 25. A resolution establishing a motorsports investment district must provide for the allocation to the motorsports investment district fund established under section 30 of this chapter of the money appropriated to the commission. The resolution must state an expiration date for the motorsports investment district, which must be the later of:

(1) the date that is thirty (30) years after the date of the adoption of the resolution; or

Terms Used In Indiana Code 5-1-17.5-25

  • commission: refers to the Indiana motorsports commission created by this chapter. See Indiana Code 5-1-17.5-9
  • motorsports investment district: means the geographic area established as a motorsports investment district under this chapter. See Indiana Code 5-1-17.5-11
  • qualified motorsports facility: means a facility that:

    Indiana Code 5-1-17.5-14

(2) the date on which the owner or owners of a qualified motorsports facility no longer have a financial liability to the commission.

Subject to section 24(c) of this chapter, the commission shall specify in the resolution the geographic area that is included within the motorsports investment district.

As added by P.L.233-2013, SEC.5.

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