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Motorsports Fairness and Permanency Act of 2025
To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
Summary
This bill amends the Internal Revenue Code to make permanent the 7-year depreciation recovery period for motorsports entertainment complexes. Under federal tax law, business property is depreciated over specified recovery periods, and motorsports entertainment complexes have been eligible for a 7-year recovery period as a temporary tax provision. The bill removes the sunset provision that would have ended this 7-year treatment, making it a permanent part of the tax code. This allows motorsports entertainment complex owners to continue depreciating their property investments over 7 years indefinitely.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
38 cosponsors
- Rep. Bean, Aaron [R-FL-4] (R-FL)
- Rep. Bishop, Sanford D. [D-GA-2] (D-GA)
- Rep. Buchanan, Vern [R-FL-16] (R-FL)
- Rep. Carson, André [D-IN-7] (D-IN)
- Rep. Donalds, Byron [R-FL-19] (R-FL)
- Rep. Feenstra, Randy [R-IA-4] (R-IA)
- Rep. Fine, Randy [R-FL-6] (R-FL)
- Rep. Fry, Russell [R-SC-7] (R-SC)
- Rep. Gimenez, Carlos A. [R-FL-28] (R-FL)
- Rep. Gomez, Jimmy [D-CA-34] (D-CA)
- Rep. Goodlander, Maggie [D-NH-2] (D-NH)
- Rep. Griffith, H. Morgan [R-VA-9] (R-VA)
- Rep. Haridopolos, Mike [R-FL-8] (R-FL)
- Rep. Harrigan, Pat [R-NC-10] (R-NC)
- Rep. Harris, Mark [R-NC-8] (R-NC)
- Rep. Harshbarger, Diana [R-TN-1] (R-TN)
- Rep. Hinson, Ashley [R-IA-2] (R-IA)
- Rep. Horsford, Steven [D-NV-4] (D-NV)
- Rep. Hudson, Richard [R-NC-9] (R-NC)
- Rep. Jack, Brian [R-GA-3] (R-GA)
- Rep. Langworthy, Nicholas A. [R-NY-23] (R-NY)
- Rep. McClellan, Jennifer L. [D-VA-4] (D-VA)
- Rep. McDowell, Addison P. [R-NC-6] (R-NC)
- Rep. Miller, Carol D. [R-WV-1] (R-WV)
- Rep. Miller-Meeks, Mariannette [R-IA-1] (R-IA)
- Rep. Moore, Tim [R-NC-14] (R-NC)
- Rep. Murphy, Gregory F. [R-NC-3] (R-NC)
- Rep. Palmer, Gary J. [R-AL-6] (R-AL)
- Rep. Rogers, Mike D. [R-AL-3] (R-AL)
- Rep. Rouzer, David [R-NC-7] (R-NC)
- Rep. Schweikert, David [R-AZ-1] (R-AZ)
- Rep. Sewell, Terri A. [D-AL-7] (D-AL)
- Rep. Thompson, Mike [D-CA-4] (D-CA)
- Rep. Torres, Norma J. [D-CA-35] (D-CA)
- Rep. Van Orden, Derrick [R-WI-3] (R-WI)
- Rep. Walberg, Tim [R-MI-5] (R-MI)
- Rep. Wasserman Schultz, Debbie [D-FL-25] (D-FL)
- Rep. Yakym, Rudy [R-IN-2] (R-IN)
Actions (2)
- Mar 18, 2025 Referred to the House Committee on Ways and Means. · house
- Mar 18, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
March 18, 2025
Ms. Tenney (for herself, Mr. Thompson of California, Mr. Hudson, Ms. Sewell, Mr. Yakym, and Ms. Wasserman Schultz) 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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Motorsports Fairness and Permanency Act of 2025”.
SEC. 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). <all>
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