INDIANAPOLIS, Ind (WOWO): Today Governor, Mike Pence signed the Indianapolis Motor Speedway bill, which authorizes the Indiana Finance Authority to issue bonds to fund improvements at the Indianapolis Motor Speedway. It also creates a Motorsports Improvement Fund for loans to industry businesses across the state.

“The Indianapolis Motor Speedway has contributed to the life of our state for more than a century, enhancing the global reputation of Indiana,” said Pence. “The legislation I signed today makes a state investment that will further economic development in the motorsports industry while also protecting the interests of Hoosier taxpayers.”