Text: H.R.1974 — 111th Congress (2009-2010)All Bill Information (Except Text)

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Introduced in House (04/02/2009)


111th CONGRESS
1st Session
H. R. 1974

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


IN THE HOUSE OF REPRESENTATIVES
April 2, 2009

Mr. Thompson of California (for himself, Mr. Heller, Ms. Berkley, Mr. Davis of Alabama, Mr. Lewis of Georgia, Mr. Meek of Florida, Mr. Bachus, Mrs. Bono Mack, Mr. Boucher, Mr. Braley of Iowa, Mr. Burton of Indiana, Mr. Carson of Indiana, Mr. Courtney, Ms. Foxx, Mr. Franks of Arizona, Mrs. Halvorson, Mr. Hastings of Washington, Mr. Hill, Ms. Kosmas, Mr. LoBiondo, Mr. McHenry, Mr. McHugh, Mr. Mica, Mr. Moore of Kansas, Mrs. Myrick, Mr. Perriello, Mr. Scott of Georgia, Mr. Sessions, Mr. Westmoreland, and Mr. Crowley) 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 2009”.

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).