Motorsports facilities get tax break
It was part of an estimated $41.6 billion in tax breaks over the next 10 years that were approved by the House of Representatives 378-46 earlier this month and then by the Senate 76-16 (60 votes need for passage) on Tuesday. All that awaits now is the expected signature of President Barack Obama. The provision is similar to those granted to amusement parks, and track operators felt that the same break should apply to their facilities. After arguing the issue with the Internal Revenue Service, the issue became moot when Congress, as part of the Jobs Creation Act of 2004, granted the seven-year depreciation provision for new motorsports construction.
The provision covers all motorsports facilities, not just NASCAR facilities. Sporting News