Summary of Bill S 2462
The Motorsports Fairness and Permanency Act of 2023, also known as Bill 118 s 2462, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote fairness and stability within the motorsports industry in the United States.
One key aspect of the Motorsports Fairness and Permanency Act is the establishment of guidelines for competition in motorsports events. These guidelines aim to ensure that all participants have an equal opportunity to succeed and that the rules are consistently enforced across different races and events.
Additionally, the bill includes provisions for the protection of intellectual property rights in motorsports. This is intended to prevent unauthorized use of trademarks, logos, and other intellectual property associated with motorsports events and organizations.
Another important component of the Motorsports Fairness and Permanency Act is the establishment of a framework for the long-term sustainability of the motorsports industry. This includes measures to support the development of new talent, promote diversity and inclusion within the industry, and ensure that motorsports events continue to thrive for years to come.
Overall, the Motorsports Fairness and Permanency Act of 2023 seeks to create a more fair and stable environment for motorsports in the United States, while also promoting innovation and growth within the industry.
Congressional Summary of S 2462
Motorsports Fairness and Permanency Act of 2023
This bill makes permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes.