With the Senate it was Jeff Lamberti and his stupid idea to eliminate state income taxes on anybody under 30 years of age.
Now it's Christopher Rants in the House, who wants this:
The owners of a proposed $70 million racetrack in Newton would be allowed to keep the sales tax revenue the facility collects over the next 10 years under bills introduced Thursday in the Iowa Legislature.Mouth.
The proposal - believed to be the first of its kind in Iowa - would allow U.S. Motorsport Entertainment Corp., the developer of the track, to pocket up to $12.5 million that its customers pay in sales taxes on tickets and concession stand sales at the Newton track. Once that total amount is collected, the sales tax revenues from the track would begin flowing into the state treasury, under the terms of the legislation.
House Speaker Christopher Rants, R-Sioux City, admitted the proposal contained in House and Senate study bills is "unconventional." But he said the state needs to consider the request or risk losing an attraction that he said will "draw a lot of out-of-state visitors who will drop a lot of cash."
Drop.
To.
Floor.
This is a really Really REALLY bad precedent if it's allowed. Everybody's going to want this:
Some Iowa sports and entertainment leaders said the Newton track legislation could open the door for similar requests from other attractions that lure visitors to the state.Past history on the $70 million racetrack is here.
Matthew Krantz, general manager of Adventureland, the Altoona amusement park, said, "I don't know if we'd pursue it, but it would be an attractive option to look at."
Jim Amstutz, general manager of Hawkeye Downs, a racetrack and fairgrounds in Cedar Rapids, said of the Newton proposal, "Boy, that would be a heck of a deal. It could set a pretty dangerous precedent."
What a bad idea. Christopher Rants gets the gas face.
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