Photo of the Indianapolis Speedrome taken during the PRI Road Tour.

The Motorsports Fairness and Permanency Act (S. 2462 and H.R. 2696), introduced into the Senate and House of Representatives, has gained additional support as stakeholders across the industry voice their backing of the bill.

The PRI-supported, bipartisan legislation would accelerate the time it takes for tracks to recover the cost of their long-term investments, such as facility upgrades and improvements. The Act would make permanent a seven-year cost recovery period for investments, an incentive currently set to expire at the end of 2025 (more details here).

Indianapolis Speedrome general manager Jonathan Byrd recently told Wish-TV Indianapolis, Indiana, about its recent upgrades, including new concession stands, lighting, scoreboard, grandstands and a beer garden. Byrd emphasized why the bill is essential, as at least six of his fellow track owners have been unable to reopen their gates this year.

PRI track ambassador Tom Deery echoed Byrd's sentiments to Wish-TV Indianapolis, stating that the tax break helps motorsports and entertainment facilities continually reinvent themselves to ensure the best customer experience.

"When people come, they want to make sure that they've got the best possible experience," Deery said to Wish-TV Indianapolis. "So tracks are now looking at improving things like improving seating and restrooms and walkways. In one way, this is kind of an encouragement for those facilities to make that step."

Watch the Wish-TV Indianapolis video below.

PRI's dedicated Washington, D.C. office will continue to provide updates on the Motorsports Fairness and Permanency Act. For more information, contact Tiffany Cipoletti at tiffanyc@sema.org.