[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2696 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 2696

To amend the Internal Revenue Code of 1986 to make permanent the 7-year 
        recovery period for motorsports entertainment complexes.


_______________________________________________________________________


                    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.

    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 2023''.

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).
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