A.A municipality or public trust may provide for the issuance of a permit to conduct a racing event on or within a racing event area located within the limits of the municipality. No person may conduct a racing event on or within a racing event area located in a municipality unless a permit has been issued which runs for the same time period as any contract for conducting the race.
B.Prior to the issuance of a permit under this act, the municipality shall determine that: 1. The applicant has adequate insurance to pay any damages incurred because of loss of or injury to any person or property; 2. The applicant has demonstrated experience in conducting a racing event on a highway or street or in a park; 3. Adequate security and necessary facilities will be provided during the racing event,
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A. A municipality or public trust may provide for the issuance of a permit to conduct a racing event on or within a racing event area located within the limits of the municipality. No person may conduct a racing event on or within a racing event area located in a municipality unless a permit has been issued which runs for the same time period as any contract for conducting the race. B. Prior to the issuance of a permit under this act, the municipality shall determine that: 1. The applicant has adequate insurance to pay any damages incurred because of loss of or injury to any person or property; 2. The applicant has demonstrated experience in conducting a racing event on a highway or street or in a park; 3. Adequate security and necessary facilities will be provided during the racing event, and 4. The applicant has demonstrated the ability to protect the health, safety, and welfare of the citizens of the municipality and those persons attending the racing event. C. A municipality may charge a reasonable fee for the issuance of a permit pursuant to this act. D. A person who is issued a permit pursuant to this act may do all of the following for the purposes of a racing event conducted pursuant to this act: 1. Limit access to the racing event area, including, without limitation, any racing event area from which the racing event may be viewed; 2. Provide for viewing areas and pit areas or any other area on or within the racing event area necessary to the conduction of the racing event; 3. Charge admission fees to persons viewing the race or entering the racing event area; and 4. Take any other action reasonably necessary for the purposes of a racing event pursuant to this section. E. A person who is issued a permit pursuant to this act shall: 1. Reasonably protect private property rights; 2. Not prevent access to governmental facilities; and 3. Provide for the restoration of the racing event area, including all public highways, streets, alleys, sidewalks, parking areas, parking lots, garages, public buildings and public parks to a substantially similar condition as existed before the racing event so that the racing event areas are suitable for normal use. The restoration of any asphalt or paving shall occur after the expiration of the permit or, if a race does not occur, within twenty-four (24) months of the running of the previous race. F. With respect to any racing event held pursuant to this act, a municipality may: 1. Provide for the temporary closing or obstructing of the racing event areas located within the municipality; 2. Reroute pedestrian and vehicular traffic; and 3. Waive ordinances and traffic regulations, including ordinances and regulations providing for speed limits and traffic control devices. G. A municipality that issues a permit pursuant to this act shall not be liable for any damages that may result from the racing event because of loss of or injury to any person or property. After a permit is issued, the state or county shall not be liable for any damages that may result from the racing event because of loss of or injury to any person or property. If a municipality, a county, or the state is insured against liability for damages for any negligent or wrongful act, omission, or occurrence resulting from a racing event, the provisions of this subsection do not apply to the extent of such coverage provided by the insurance policy. H. A racing event held pursuant to this act and the actions of the municipality or the permit holder taken pursuant to this act shall not be considered or found to be a public or private nuisance. I. A racing event held pursuant to this act and any action taken by a municipality or a permit holder pursuant to this section shall be considered as being for public purposes, including the promotion of commerce and tourism, and for the benefit of the citizens of the municipality and the state. J. A permit issued pursuant to this act shall not be construed in any way to restrict the use of private property.