II
110th CONGRESS
1st Session
S. 557
IN THE SENATE OF THE UNITED STATES
February 12, 2007
Mr. Schumer (for himself, Mr. Roberts, Mr. Nelson of Florida, Mrs. Dole, Ms. Stabenow, and Mr. Kyl) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to make permanent the depreciation classification of motorsports entertainment complexes.
Short title
This Act may be cited as the
Motorsports Fairness and Permanency
Act of 2007
.
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).