SB2462: Motorsports Fairness and Permanency Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
Plain-language summary
This bill would make permanent a tax rule that allows motorsports entertainment complexes to recover their construction costs over 7 years instead of a longer period. Motorsports entertainment complexes are venues like racetracks that host racing events and related entertainment. Currently, this 7-year recovery period is temporary and set to expire. The bill was introduced in 2023 with bipartisan sponsorship and is in the early legislative stage.
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SB2462: Motorsports Fairness and Permanency Act of 2023
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Sponsors
Mark Warner
Primary SponsorCo-sponsors (5)
Todd Young
Jeanne Shaheen
Joni Ernst
Tim Kaine
Roger Wicker