Motorsports Fairness and Permanency Act of 2021
This bill modifies the requirements for calculating taxable income to make permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes.
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 2021''.

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>
Motorsports Fairness and Permanency Act of 2021
To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
Motorsports Fairness and Permanency Act of 2021
Rep. Thompson, Mike