A revised version of the Knoxville Raceway tax rebate bill has passed the Iowa State Senate by a 40-8 vote, and will now move on to the Iowa House of Representatives.

State Senator Amy Sinclair tells KNIA/KRLS News the bill changed the overall rebate from $2 million dollars to $1.8 million, and cleaned up language that will now allow the raceway to go back and collect revenue they have not received due to a fund not being initially set up correctly. Sinclair also said that there are changes to how the raceway can draw funds as now the raceway can draw funds as they make improvements gradually rather than all in one lump sum, so as long as they submit receipts they can begin to draw funds as projects are completed.

If the bill passes the house in its current version and signed by Governor Kim Reynolds, it will allow the raceway to obtain over $400,000 in funds immediately.