S 1141
Motorsports Fairness and Permanency Act of 2019
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- Passed Senate
- Passed House
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- Became Law
Bill overview
The Motorsports Fairness and Permanency Act of 2019 makes a tax provision permanent that allows motorsports entertainment complexes to quickly write off the cost of their buildings. Currently, these complexes had to depreciate their facilities over a longer period, but this bill permanently changes that to a seven-year recovery period. This change is intended to provide greater certainty for investors and encourage the development of motorsports facilities, ultimately creating jobs.
Sponsors
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Primary sponsor
Debbie Stabenow
Cosponsors
Doug Jones
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