Sec. 14. (a) As used in this chapter, "qualified motorsports facility" means a facility that:
(1) is located in Indiana;
(2) is used for professional motorsports racing events;
(3) has a motorsports racetrack that is greater than two (2) miles in length; and
(4) holds at least two (2) professional motorsports racing events annually at which the combined admissions total at least two hundred thousand (200,000).
(b) For purposes of this section, a professional motorsports racing event includes a professional motorsports racing practice session that is open to the general public.