A bill passed by the Iowa House and Senate that will benefit the Knoxville Raceway takes effect on Saturday. 

The Raceway Facility Tax Rebate Fund was signed by Governor Kim Reynolds in May and will assist the Knoxville Raceway in getting money back for improvements at the facility. The bill was originally passed in 2015 for a period of 10 years until 2025. The rebate fund bill extends the period of time for a portion of the sales tax receipts collected through 2030 up to a maximum of $1.8 million. Knoxville Raceway General Manager Jason Reed says the rebate fund has helped with upgrades to their facilities. 

“As we do this new elevator project, we’ll turn that in and that project alone is over the $1.8 million, so the money we have got back in this rebate we’ve been able to put back into facilities. We’ve got about all the restrooms updated now and with ADA accessibility. We’ve been able to do that even with all the barns that we use for the county fair and other events too.”

Find the full interview with Knoxville Raceway General Manager Jason Reed discussing the bill here.