Motorsports Fairness and Permanency Act of 2023

Bill: 118-hr-2696
Sponsor: full_name: Rep. Tenney, Claudia [R-NY-24]
Introduced: 2023-04-18
Policy area: Taxation
Latest action: action_date: 2023-04-18
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2023-04-18
action_desc: Introduced in House
text: <p><strong>Motorsports Fairness and Permanency Act </strong><b>of 2023</b></p> <p>This bill makes permanent the accelerated depreciation (seven-year recovery period)&nbsp;of motorsports entertainment complexes.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2696 IN THE HOUSE OF REPRESENTATIVES April 18, 2023 Ms. Tenney (for herself, Mr. Thompson of California , Mr. Posey , Ms. Sewell , Mr. Yakym , Ms. Wasserman Schultz , and Mr. Ferguson ) 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 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 2023 . 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).