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Permanent Tax Break for Motorsports Entertainment Complexes.

This bill makes a specific tax provision permanent for owners of race tracks and motorsports facilities. It allows these businesses to deduct the cost of their investments (depreciation) over a fixed 7-year period, encouraging facility upgrades and maintenance. While directly affecting businesses, this stability can support local jobs and the continuation of motorsports events.
Key points
Establishes a permanent 7-year depreciation period for motorsports entertainment complexes (race tracks and related facilities).
The change aims to provide financial stability and encourage owners to invest in modernizing and maintaining infrastructure.
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Expired
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Additional Information
Print number: 118_S_2462
Sponsor: Sen. Warner, Mark R. [D-VA]
Process start date: 2023-07-25
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Summarized by: gemini-2.5-flash-preview-09-2025
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_S_2462.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-25.

What are the main provisions?

Key points include:

  • Establishes a permanent 7-year depreciation period for motorsports entertainment complexes (race tracks and related facilities).
  • The change aims to provide financial stability and encourage owners to invest in modernizing and maintaining infrastructure.
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 Sen. Warner, Mark R. [D-VA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy