summary
Introduced
07/25/2023
07/25/2023
In Committee
07/25/2023
07/25/2023
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 expiration date for this tax provision, ensuring that motorsports facilities can continue to benefit from the shorter recovery period for their depreciable property.
Committee Categories
Budget and Finance
Sponsors (6)
Mark Warner (D)*,
Joni Ernst (R),
Tim Kaine (D),
Jeanne Shaheen (D),
Roger Wicker (R),
Todd Young (R),
Last Action
Read twice and referred to the Committee on Finance. (on 07/25/2023)
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/senate-bill/2462/all-info | 07/26/2023 |
| BillText | https://www.congress.gov/118/bills/s2462/BILLS-118s2462is.pdf | 08/15/2023 |
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