summary
Introduced
04/18/2023
04/18/2023
In Committee
04/18/2023
04/18/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
AI Summary
This bill makes permanent the 7-year recovery period for motorsports entertainment complexes under the Internal Revenue Code of 1986. The Motorsports Fairness and Permanency Act of 2023 removes the provision that would have ended the 7-year recovery period, thereby making it a permanent tax treatment for these types of entertainment facilities.
Committee Categories
Budget and Finance
Sponsors (19)
Claudia Tenney (R)*,
Sanford Bishop (D),
Larry Bucshon (R),
André Carson (D),
Mario Diaz-Balart (R),
Drew Ferguson (R),
Jimmy Gomez (D),
Richard Hudson (R),
Doug LaMalfa (R),
Jimmy Panetta (D),
Bill Posey (R),
Mike Rogers (R),
Terri Sewell (D),
Mike Thompson (D),
Dina Titus (D),
David Valadao (R),
Debbie Wasserman Schultz (D),
Rob Wittman (R),
Rudy Yakym (R),
Last Action
Referred to the House Committee on Ways and Means. (on 04/18/2023)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2696/all-info | 04/19/2023 |
| BillText | https://www.congress.gov/118/bills/hr2696/BILLS-118hr2696ih.pdf | 04/26/2023 |
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