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Permanent Tax Relief for Motorsports Entertainment Complexes

This bill aims to make permanent tax benefits for motorsports entertainment complexes. This means that owners of these facilities will be able to deduct investment costs from their taxes more quickly, potentially encouraging further investment and growth in this industry. For citizens, this could mean more sporting events and job opportunities in the motorsports sector.
Key points
Establishes a permanent 7-year recovery period for motorsports entertainment complex investments.
Potential support for the development of motorsports infrastructure in the USA.
Possible benefits for local communities through job creation and increased tourism.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2696
Sponsor: Rep. Tenney, Claudia [R-NY-24]
Process start date: 2023-04-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Motorsports Fairness and Permanency Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2696.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-18.

What are the main provisions?

Key points include:

  • Establishes a permanent 7-year recovery period for motorsports entertainment complex investments.
  • Potential support for the development of motorsports infrastructure in the USA.
  • Possible benefits for local communities through job creation and increased tourism.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Tenney, Claudia [R-NY-24].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy