The Florida Legislature has ended its 2013 session, passing the largest budget in state history. But the legislature did not deliver tax subsidies that would have benefited Daytona International Speedway's ambitious development plans.

Indeed, Speedway President Joie Chitwood said that the failure to pass the legislation is sending the flagship track for the International Speedway Corporation back to the drawing board to decide the feasibility of the track's plans.

“We are clearly disappointed by the outcome last week in the Florida Legislature,” Chitwood said in a statement released on Tuesday. “ We made a very compelling case for what could have been a successful public/private partnership with the State of Florida to create jobs and generate real economic growth. We also had substantial local, regional and statewide support.

“However, given this setback to our project, we are forced to reassess the proposed redevelopment and closely examine a number of factors such as its timing, size and scope, before we decide on next steps.”

The Speedway isn't the only facility reeling from the news -- other sports franchises, including the Miami Dolphins and Jacksonville Jaguars, were hoping the tax rebates would help build or renovate stadiums and arenas. The Dolphins, for example, were planning on using the money to help finance a $350 million upgrade to SunLife Stadium, in hopes of attracting another Super Bowl. Dolphins owner Stephen Ross said the Florida speaker of the house “singlehandedly put the future of Super Bowls and other big events at risk for Miami-Dade and for all of Florida,” Ross said.

Orlando was hoping the money would help finance a pro soccer stadium.

And the Speedway was hoping the tax rebates would generate about $70 million over the next 30 years, partially offsetting the cost of renovating the 54-year-old race track and its surrounding area.

Last October, Chitwood announced plans that would develop the area around the Speedway as a business and entertainment complex. And last January, he unveiled additional plans for the Speedway itself, adding a new tower, additional entrances and a fourth tier of seats along the front straight.

The bills can be re-filed for consideration in next year's legislative sessions, a fact cited by House Speaker Will Weatherford, who declined to bring to the House floor a bill creating a process for sports teams to compete for $13 million annually in sales-tax rebates.

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