Sponsors (18)
The bill provides targeted tax relief to motorsports complex owners by allowing accelerated 7‑year depreciation, but it reduces federal revenue and raises fairness concerns by favoring a specific industry.
Owners of motorsports entertainment complexes can use a permanent 7‑year depreciation schedule for their property, accelerating tax deductions and lowering their taxable income.
All taxpayers may face reduced federal revenue over time because faster depreciation cuts tax receipts, potentially increasing deficits or crowding out funding for other services or programs.
Other taxpayers and businesses may see this as a targeted tax preference that favors motorsports complexes over similarly situated property, creating fairness and equity concerns.
Based on analysis of 2 sections of legislative text.
Makes the 7-year depreciation recovery period for motorsports entertainment complexes permanent by removing a limiting subparagraph of IRC §168(i)(15).
Official title: Amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
Introduced May 14, 2025 by Todd Young · Last progress May 14, 2025
Permanently makes the 7-year depreciation recovery period for motorsports entertainment complexes part of the tax code by removing the subparagraph that previously limited or phased that treatment. The change amends the Internal Revenue Code so that qualifying motorsports facilities may use a 7-year recovery period for depreciation on a permanent basis.