Kentucky Speedway’s Tax Incentive May Be in Jeopardy
Several major pieces of legislation in Kentucky’s General Assembly including a tax-incentive plan designed to lure a NASCAR Sprint Cup race to the Kentucky Speedway are in jeopardy.
Kentucky’s House leaders will only consider any vetoes by Gov. Steve Beshear when lawmakers return to the capital of Frankfort Thursday and Friday to wrap up this year’s legislative session.
Its been reported Speaker of the Democrat controlled House, Greg Stumbo, “believes that most of the legislation still on the agenda for this session could wait until next January’s regular legislative session.”
In short this places the bill giving Kentucky Speedway tax breaks far past the time when NASCAR schedules are negotiated and announced in the August-September time frame of the preceding year.
This may serve as an indicator how much pull Bruton Smith has with the Governor who has supported the tax incentives. If Gov. Beshear intercedes and gets the bill before both legislative bodies before they adjourn Friday it would be a fair indication his Blackberry was lit-up with messages from the SMI president.
If not Kentucky Speedway at best can’t expect a Cup date until at least 2011.
BTW, where the hell do I sign-up for a job that gives me from April ’til January as vacation time? Excuse me while I check Graig’s List.
Somewhat related: SMI and Bruton Smith has contended they previously requested a Sprint Cup Date. Jim Utter relates, the request was included on on Page19 of its March13 annual filing with the SEC, SMI stated: “NASCAR has informed the Company that NASCAR does not intend to allow realignment of a Sprint Cup Series race to (Kentucky Speedway) until the KS litigation is resolved.
“The Company has requested realignment of a Sprint Cup Series race at the earliest possible time, and will consider all options if NASCAR denies such realignment request.”
NASCAR spokesman Ramsey Poston said the sanctioning body agrees with the first assertion but not the second.
“There will be no consideration for realignment to Kentucky Speedway while the lawsuit against NASCAR, (International Speedway Corp.) and SMI is pending,” he said. “SMI is an unnamed co-conspirator in the suit.”
In regards to the SEC filing’s claim that SMI had requested realignment of one of its Sprint Cup Series races, Poston said, “NASCAR has not received any formal request from SMI for realignment” of its current Cup dates.
When asked Monday about the discrepancy, an SMI spokesman said the company declined to comment.
What. Ever!
It has been my stance, and remains so, until Carrol gets off his high horse and drops the appeal of the sham lawsuit Kentucky’s hope of a Cup date is nil.
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