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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 a 7-year depreciation period for motorsports entertainment complexes. The 7-year recovery period allows motorsports facilities to depreciate their assets more quickly than the standard 15-year recovery period, providing a tax benefit for facility owners and operators. The bill removes the sunset provision that was previously set to expire this beneficial depreciation schedule.
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)
- Sen. Young, Todd [R-IN] (R-IN)
17 cosponsors
- Sen. Blackburn, Marsha [R-TN] (R-TN)
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE)
- Sen. Britt, Katie Boyd [R-AL] (R-AL)
- Sen. Budd, Ted [R-NC] (R-NC)
- Sen. Gillibrand, Kirsten E. [D-NY] (D-NY)
- Sen. Graham, Lindsey [R-SC] (R-SC)
- Sen. Hassan, Margaret Wood [D-NH] (D-NH)
- Sen. Kaine, Tim [D-VA] (D-VA)
- Sen. Moody, Ashley [R-FL] (R-FL)
- Sen. Peters, Gary C. [D-MI] (D-MI)
- Sen. Shaheen, Jeanne [D-NH] (D-NH)
- Sen. Sheehy, Tim [R-MT] (R-MT)
- Sen. Slotkin, Elissa [D-MI] (D-MI)
- Sen. Tillis, Thomas [R-NC] (R-NC)
- Sen. Tuberville, Tommy [R-AL] (R-AL)
- Sen. Warner, Mark R. [D-VA] (D-VA)
- Sen. Wicker, Roger F. [R-MS] (R-MS)
Actions (2)
- May 14, 2025 Read twice and referred to the Committee on Finance. · senate
- May 14, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 14, 2025
Mr. Young (for himself and Mr. Warner) 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.
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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