Motorsports Fairness and Permanency Act

H.R. 4933 · 113th Congress · Jun 20, 2014 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.

This Act may be cited as the “Motorsports Fairness and Permanency Act”.

(a)

In general— Section 168(i)(15) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D).

(b)

Effective date— The amendment made by this section shall apply to property placed in service after December 31, 2013.

Lineage

Jun 20, 2014viewing Introduced in House Mr. Reed (for himself, Mr. Hudson, Mr. Posey, Mr. Collins of New York, Mr. Westmoreland, Mr. McHenry, Mrs. Ellmers, Mr. Rooney, Mr. Roe of Tennessee, Mr. Sessions, Mr. DeSantis, Mr. Duncan of Tennessee, Mr. Rogers of Alabama, Mr. Mica, Mr. Schweikert, Mr. Walberg, Mr. Hastings of Washington, Mr. Yoder, Mr. Coble, Mr. Thompson of California, Mr. Carson of Indiana, Mr. Loebsack, Mr. Peters of Michigan, Mr. Bishop of Georgia, Ms. Titus, Ms. Wasserman Schultz, Mr. David Scott of Georgia, Mr. Enyart, Mrs. Negrete McLeod, Mr. Cartwright, Mr. Grijalva, Ms. Kuster, Mr. Pastor of Arizona, Mr. Foster, Mrs. Napolitano, Mr. Horsford, Mr. Lewis, and Mr. Maffei) introduced the following bill; which was referred to the Committee on Ways and Means