Motorsports Fairness and Permanency Act of 2005

The Motorsports Fairness and Permanency Act of 2005 (H.R. 930) is a tax-focused bill designed to provide long-term financial stability for owners and operators of professional racing facilities. The legislation would amend the Internal Revenue Code to permanently set the "depreciation period" for motorsports entertainment complexes at seven years.

In practical terms, this allows track owners to deduct the costs of building or improving their facilities from their taxes over a shorter, fixed timeframe rather than a longer period. By making this tax treatment permanent, the bill aims to encourage continued private investment in racing venues, which can support local economies through tourism and job creation at speedways and surrounding businesses.