Speedway bill moves forward

A man uses the crosswalk at International Speedway Boulevard and Daytona Boulevard near the Speedway on Monday, Dec. 23, 2013. The Florida Department of Transportation is budgeting for improvements including two new walkways over the 8-lane boulevard.

A key Senate committee waved the green flag Wednesday for a bill that would provide $60 million in tax breaks in exchange for an ongoing overhaul of the iconic Daytona International Speedway.

The bill filed by Port Orange Republican state Sen. Dorothy Hukill would provide the Speedway with $2 million per year in sales tax rebates as the track undergoes the most extensive renovation in its 55-year history. A companion House bill co-introduced by Reps. David Santiago, R-Deltona, and Jason Brodeur, R-Sanford, is making its way through committee.

On Wednesday, the Senate Commerce and Tourism Committee passed Hukills bill on a unanimous vote.

This is a real economic driver not, only for the county that I represent but really for the entire state, Hukill said before the vote was taken. She pointed out that the Speedway and parent company, International Speedway Corp., inject about $1.6 billion into the state economy on an annual basis.

Hukill said after the meeting the bill will go before another committee soon.

Its got some steps to make, she said, adding shes very optimistic about its chances of becoming law by the end the 2014 legislative session, which begins in March. But were not going to take anything for granted.

Speedway president Joie Chitwood III, who attended the meeting, said he was pleased with the reception of the bill.

Its the start of a long process, he said. Im sure well be in Tallahassee over the next couple of months.

A similar bill failed to become law last year. It sought an additional, one-time $10 million rebate on construction materials.

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Speedway bill moves forward