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H.R. 2091 - Motorsports Fairness and Permanency Act

APR. 12, 2017

H.R. 2091; Motorsports Fairness and Permanency Act

DATED APR. 12, 2017
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Citations: H.R. 2091; Motorsports Fairness and Permanency Act

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.

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