(1) A special motorcycle event that has been ongoing for five (5) years or more before July 31, 2007, and has had a significant positive economic impact in the past shall be: Considered an established and ongoing special motorcycle event; and
(2) Eligible to a presumption of a significant positive economic impact by the Arkansas Motor Vehicle Commission.
(3) Notwithstanding any provision of law to the contrary, an established and ongoing special motorcycle event under this section may continue to invite motor vehicle dealers and manufacturers that have participated in the special motorcycle event for the previous three (3) years.