Speedway set for tax break if Sprint Cup comes to state

FRANKFORT, Ky. (AP) - The Kentucky legislature is working to
give Speedway Motorsports Incorporated a major tax break if the
company can bring a lucrative NASCAR Sprint Cup race to Kentucky
SMI purchased the 1.5-mile tri-oval in northern Kentucky last
fall, and SMI owner Bruton Smith is planning extensive renovations
at the track in an effort to secure a date from stock car racing's
top series.
Lawmakers are working on an amendment to the Kentucky Tourism
Development Act that would allow SMI to recoup 25 percent of the
expansion costs over a 20-year period. SMI would only get the tax
break if it lands a Cup date.
Smith said he's optimistic he can get a Kentucky race on
NASCAR's 2010 schedule, but allowed he may have to move a date from
one of the other tracks he owns to do so.

(Copyright 2009 by The Associated Press. All Rights Reserved.)