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 entertain-
ment complexes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS 
ENTERTAINMENT COMPLEXES. 
(a) 7-YEAR PROPERTY.—Subparagraph (C) of sec-
tion 168(e)(3) of the Internal Revenue Code of 1986 (re-
lating to classification of certain property) is amended by
redesignating clause (ii) as clause (iii) and by inserting 
after clause (i) the following new clause: 
‘‘(ii) any motorsports entertainment 
complex asset, and’’. 
(b) DEFINITION.—Section 168(i) of such Code (relat-
ing to definitions and special rules) is amended by adding 
at the end the following new paragraph: 
‘‘(15) MOTORSPORTS
ENTERTAINMENT
COM-
PLEX.—
‘‘(A) IN
GENERAL.—The term ‘motor-
sports entertainment complex’ means a racing 
track facility that is permanently situated on 
land and which during the applicable period is 
scheduled to host one or more racing events for 
automobiles (of any type), trucks, or motor-
cycles that are open to the public for the price 
of admission. 
‘‘(B) ANCILLARY
AND
SUPPORT
FACILI-
TIES.—Such term shall include, if owned by the 
complex and provided for the benefit of patrons 
of the complex—
‘‘(i) ancillary grounds and facilities 
and land improvements in support of the 
complex’s activities (including parking lots,
sidewalks, waterways, bridges, fences, and 
landscaping), 
‘‘(ii) support facilities (including food 
and beverage retailing, souvenir vending, 
and other nonlodging accommodations), 
and 
‘‘(iii) appurtenances associated with 
such facilities and related attractions and 
amusements (including ticket booths, race 
track surfaces, suites and hospitality facili-
ties, grandstands and viewing structures, 
props, walls, facilities that support the de-
livery of entertainment services, other spe-
cial purpose structures, facades, shop inte-
riors, and buildings). 
‘‘(C) EXCEPTION.—Such term shall not in-
clude any transportation equipment, adminis-
trative services assets, warehouses, administra-
tive buildings, hotels, or motels. 
‘‘(D) APPLICABLE PERIOD.—For purposes 
of subparagraph (A), the term ‘applicable pe-
riod’ means the period ending the later of the 
last day of—
‘‘(i) the 24 month period following the 
first day of the month in which the asset 
is or was placed in service, or 
‘‘(ii) the 24 month period ending De-
cember 31, 2003, to the extent that the 
asset remains in service during such pe-
riod.’’. 
(c) EFFECTIVE DATE.—
(1) IN GENERAL.—The amendments made by 
this section shall apply to any property placed in 
service before, on, or after the date of the enactment 
of this Act. 
(2) TRANSITION RULE FOR PROPERTY PLACED 
IN SERVICE ON OR BEFORE ENACTMENT.—In the 
case of property placed in service on or before the 
date of the enactment of this Act, the taxpayer may 
elect (in such form and manner as the Secretary 
may prescribe), not to apply section 168 of the In-
ternal Revenue Code of 1986 (as amended by this 
section) to such property.
Æ