Text: H.R.1304 — 110th Congress (2007-2008)All Information (Except Text)

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Introduced in House (03/01/2007)


110th CONGRESS
1st Session
H. R. 1304


To amend the Internal Revenue Code of 1986 to make permanent the depreciation classification of motorsports entertainment complexes.


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.

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 of 2007”.

SEC. 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).


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