Indiana § 5-1-17.5-30.5 Establishment of motorsports facility fund; deposits; reversions;
requests for appropriations

Indiana Statutes

§ 5-1-17.5-30.5 — Establishment of motorsports facility fund; deposits; reversions; requests for appropriations

Indiana § 5-1-17.5-30.5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1BONDS AND OTHER OBLIGATIONS

Ch. 17.5Motorsports Investment District

This text of Indiana § 5-1-17.5-30.5 (Establishment of motorsports facility fund; deposits; reversions; requests for appropriations) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1-17.5-30.5 (2026).

Text

5.

(a)If a motorsports investment district is established under this chapter, the commission shall establish a motorsports facility fund for the motorsports investment district.

(b)During the term of the written agreement entered into by:

(1)the owner or owners of the qualified motorsports facility;

(2)the authority; and

(3)the commission; the commission shall, in each state fiscal year, deposit in the motorsports facility fund two million dollars ($2,000,000) solely from payments established under section 37(f)(1) of this chapter.

(c)Subject to subsection (e), the commission, or the authority for and on behalf of the commission, shall request that the general assembly make an appropriation to the commission in each state fiscal year in which the written agreement described in subsec

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5. (a) If a motorsports investment district
is established under this chapter, the commission shall establish a
motorsports facility fund for the motorsports investment district.
(b) During the term of the written agreement entered into by:
(1) the owner or owners of the qualified motorsports facility;
(2) the authority; and
(3) the commission;
the commission shall, in each state fiscal year, deposit in the
motorsports facility fund two million dollars ($2,000,000) solely from
payments established under section 37(f)(1) of this chapter.
(c) Subject to subsection (e), the commission, or the authority for
and on behalf of the commission, shall request that the general
assembly make an appropriation to the commission in each state fiscal
year in which the written agreement described in subsection (b) is in
effect. The amount of the requested appropriation must be equal to the
amount that the commission is required to deposit into the motorsports
facility fund under subsection (b) for that state fiscal year. An
appropriation made to the commission under this subsection:
(1) must be deposited in the motorsports investment district fund
established under section 30 of this chapter; and
(2) is in addition to an amount appropriated under section 30 of
this chapter.
(d) In addition, to the extent the rent due in a state fiscal year under
leases of structures or other capital improvements that are within a
motorsports investment district, plus the appropriation requested under
section 30(e) of this chapter, are anticipated to be insufficient to pay
debt service on bonds issued under section 37 of this chapter, when due
in that state fiscal year, the authority shall make the request under
subsection (c) upon reaching the determination.
(e) The commission may not request an appropriation under
subsection (c) after the earlier of:
(1) the date specified in section 30(c)(1) of this chapter; or
(2) the date specified in section 30(c)(2) of this chapter.
(f) Money in the motorsports facility fund reverts to the state general
fund on June 30 of each year.