I 

108TH CONGRESS 

1ST SESSION H. R. 2900

To amend the Internal Revenue Code of 1986 to provide for a 7-year recovery 

period for motorsports entertainment complexes. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 25, 2003

Mr. HAYWORTH (for himself, Mr. JEFFERSON, Mr. FOLEY, Mr. RAMSTAD, 

Mr. CANTOR, Mr. HOUGHTON, Mr. HAYES, Mr. FEENEY, Mr. ROGERS

of Alabama, Mr. ENGLISH, Mr. WELLER, Mr. MCINNIS, and Mr. CAMP) 

introduced the following bill; which was referred to the Committee on 

Ways and Means 

A BILL

To amend the Internal Revenue Code of 1986 to provide 

for a 7-year recovery period for motorsports entertainment complexes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS 

4 ENTERTAINMENT COMPLEXES. 

5 (a) 7-YEAR PROPERTY.—Subparagraph (C) of sec6 tion 168(e)(3) of the Internal Revenue Code of 1986 (re7 lating to classification of certain property) is amended by 
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1 redesignating clause (ii) as clause (iii) and by inserting 

2 after clause (i) the following new clause: 

3 ‘‘(ii) any motorsports entertainment 

4 complex asset, and’’. 

5 (b) DEFINITION.—Section 168(i) of such Code (relat6 ing to definitions and special rules) is amended by adding 

7 at the end the following new paragraph: 

8 ‘‘(15) MOTORSPORTS ENTERTAINMENT COM9 PLEX.—

10 ‘‘(A) IN GENERAL.—The term ‘motor11 sports entertainment complex’ means a racing 

12 track facility that is permanently situated on 

13 land and which during the applicable period is 

14 scheduled to host one or more racing events for 

15 automobiles (of any type), trucks, or motor16 cycles that are open to the public for the price 

17 of admission. 

18 ‘‘(B) ANCILLARY AND SUPPORT FACILI19 TIES.—Such term shall include, if owned by the 

20 complex and provided for the benefit of patrons 

21 of the complex—

22 ‘‘(i) ancillary grounds and facilities 

23 and land improvements in support of the 

24 complex’s activities (including parking lots, 
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1 sidewalks, waterways, bridges, fences, and 

2 landscaping), 

3 ‘‘(ii) support facilities (including food 

4 and beverage retailing, souvenir vending, 

5 and other nonlodging accommodations), 

6 and 

7 ‘‘(iii) appurtenances associated with 

8 such facilities and related attractions and 

9 amusements (including ticket booths, race 

10 track surfaces, suites and hospitality facili11 ties, grandstands and viewing structures, 

12 props, walls, facilities that support the de13 livery of entertainment services, other spe14 cial purpose structures, facades, shop inte15 riors, and buildings). 

16 ‘‘(C) EXCEPTION.—Such term shall not in17 clude any transportation equipment, adminis18 trative services assets, warehouses, administra19 tive buildings, hotels, or motels. 

20 ‘‘(D) APPLICABLE PERIOD.—For purposes 

21 of subparagraph (A), the term ‘applicable pe22 riod’ means the period ending the later of the 

23 last day of—
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1 ‘‘(i) the 24 month period following the 

2 first day of the month in which the asset 

3 is or was placed in service, or 

4 ‘‘(ii) the 24 month period ending De5 cember 31, 2003, to the extent that the 

6 asset remains in service during such pe7 riod.’’. 

8 (c) EFFECTIVE DATE.—

9 (1) IN GENERAL.—The amendments made by 

10 this section shall apply to any property placed in 

11 service before, on, or after the date of the enactment 

12 of this Act. 

13 (2) TRANSITION RULE FOR PROPERTY PLACED

14 IN SERVICE ON OR BEFORE ENACTMENT.—In the 

15 case of property placed in service on or before the 

16 date of the enactment of this Act, the taxpayer may 

17 elect (in such form and manner as the Secretary 

18 may prescribe), not to apply section 168 of the In19 ternal Revenue Code of 1986 (as amended by this 

20 section) to such property.

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