Motorsports Fairness and Permanency Act of 2021

Bill: 117-s-2940
Sponsor: full_name: Sen. Stabenow, Debbie [D-MI]
Introduced: 2021-10-06
Policy area: Taxation
Subjects: Business investment and capital

Income tax deductions

Motor vehicles

Sports and recreation facilities
Latest action: action_date: 2021-10-06
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2021-10-06
action_desc: Introduced in Senate
text: <p><strong>Motorsports Fairness and Permanency Act </strong><b>of 2021</b></p> <p>This bill makes permanent the accelerated depreciation (seven-year recovery period)&nbsp;of motorsports entertainment complexes.</p>

tv_txt: II 117th CONGRESS 1st Session S. 2940 IN THE SENATE OF THE UNITED STATES October 6, 2021 Ms. Stabenow (for herself and Mr. Burr ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.

1. Short title This Act may be cited as the Motorsports Fairness and Permanency Act of 2021 . 2. 7-year recovery period for motorsports entertainment complexes made permanent Section 168(i)(15) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D).