H.R. 1304

Motorsports Fairness and Permanency Act of 2007

Latest
Raw Text PDF XML

I

110th CONGRESS

1st Session

H. R. 1304

IN THE HOUSE OF REPRESENTATIVES

March 1, 2007

Mr. Thompson of California (for himself, Mr. English of Pennsylvania, Ms. Berkley, Mr. Weller of Illinois, Mr. Meek of Florida, Mr. Cantor, Mr. Lewis of Georgia, and Mr. Herger) 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 depreciation classification of motorsports entertainment complexes.

1.

Short title

This Act may be cited as the Motorsports Fairness and Permanency Act of 2007.

2.

7-year class life for motorsports entertainment complex facilities made permanent

Section 168(i)(15) of the Internal Revenue Code of 1986 (defining motorsports entertainment complex) is amended by striking subparagraph (D).