119th (2025–2027)
H.R. 2231
The Motorsports Fairness and Permanency Act makes permanent a tax benefit for motorsports entertainment complexes by allowing them to depreciate their facilities over seven years rather than a longer period. Currently, this shorter depreciation schedule is temporary and set to expire, so the bill locks it in as permanent law. This change affects owners and operators of racetracks and similar motorsports venues, allowing them to deduct the cost of their facilities more quickly for tax purposes, which reduces their overall tax burden. The bill has no specified funding or implementation timeline—it's a tax code amendment that would take effect upon passage. The legislation was introduced in March 2025 with bipartisan support.