motorsports entertainment complex
(15) Motorsports entertainment complex (A) In general The term “motorsports entertainment complex” means a racing track facility which— (i) is permanently situated on land, and (ii) during the 36-month period following the first day of the month in which the asset is placed in service, hosts 1 or more racing events for automobiles (of any type), trucks, or motorcycles which are open to the public for the price of admission. (B) Ancillary and support facilities Such term shall include, if owned by the taxpayer who owns the complex and provided for the benefit of patrons of the complex— (i) ancillary facilities and land improvements in support of the complex’s activities (including parking lots, sidewalks, waterways, bridges, fences, and landscaping), (ii) support facilities (including food and beverage retailing, souvenir vending, and other nonlodging accommodations), and (iii) appurtenances associated with such facilities and related attractions and amusements (including ticket booths, race track surfaces, suites and hospitality facilities, grandstands and viewing structures, props, walls, facilities that support the delivery of entertainment services, other special purpose structures, facades, shop interiors, and buildings). (C) Exception Such term shall not include any transportation equipment, administrative services assets, warehouses, administrative buildings, hotels, or motels. (D) Termination Such term shall not include any property placed in service after December 31, 2025 .