US Codex
Bill
Notes

Motorsports Fairness and Permanency Act of 2019

S. 1141 · 116th Congress · Apr 11, 2019 · Lineage

A BILL

To provide predictability and certainty in the tax law, create jobs, and encourage investment.

1. Short title

This Act may be cited as the “Motorsports Fairness and Permanency Act of 2019”.

2. 7-year applicable recovery period for motorsports entertainment complex facilities made permanent

(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.