Motorsports Fairness and Permanency Act - Amends the Internal Revenue Code to make permanent the classification, for depreciation purposes, of any motorsports entertainment complex as seven-year property.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1174 Introduced in Senate (IS)]
112th CONGRESS
1st Session
S. 1174
To provide predictability and certainty in the tax law, create jobs,
and encourage investment.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 9, 2011
Ms. Stabenow (for herself, Mr. Roberts, Mr. Nelson of Florida, Mrs.
Hagan, Mr. Burr, and Mr. Kyl) introduced the following bill; which was
read twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To provide predictability and certainty in the tax law, create jobs,
and encourage investment.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Motorsports Fairness and Permanency
Act''.
SEC. 2. 7-YEAR CLASS LIFE FOR MOTORSPORTS ENTERTAINMENT COMPLEX
FACILITIES MADE PERMANENT.
Section 168(i)(15) of the Internal Revenue Code of 1986 is amended
by striking subparagraph (D).
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Introduced in Senate
Read twice and referred to the Committee on Finance.
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