Motorsports Fairness and Permanency Act of 2019

H.R. 2137 · 116th Congress · Apr 8, 2019 · 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 of 2019”.

(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, 2017.