motorsports entertainment complex
Defined in 1 place of the United States Code.
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.
Source
- 2005–present26 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · under this section