H.R. 2091 - Motorsports Fairness and Permanency Act
H.R. 2091; Motorsports Fairness and Permanency Act
- AuthorsReed, Tom
- Institutional AuthorsHouse of Representatives
- Code Sections
- Subject Area/Tax Topics
- Industry GroupsEntertainment
- Jurisdictions
- Tax Analysts Document Number2017-50772
- Tax Analysts Electronic Citation2017 TNT 76-17
115TH CONGRESS
1ST SESSION
H.R. 2091
To amend the Internal Revenue Code of 1986 to make permanent
the 7-year recovery period for motorsports entertainment complexes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 12, 2017
Mr. REED (for himself and Mr. THOMPSON of California) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
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 RECOVERY PERIOD FOR MOTORSPORTS ENTERTAINMENT COMPLEXES 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, 2016.
- AuthorsReed, Tom
- Institutional AuthorsHouse of Representatives
- Code Sections
- Subject Area/Tax Topics
- Industry GroupsEntertainment
- Jurisdictions
- Tax Analysts Document Number2017-50772
- Tax Analysts Electronic Citation2017 TNT 76-17