Text: H.R.4933 — 113th Congress (2013-2014)All Information (Except Text)

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Introduced in House (06/20/2014)


113th CONGRESS
2d Session
H. R. 4933


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

June 20, 2014

Mr. Reed (for himself, Mr. Hudson, Mr. Posey, Mr. Collins of New York, Mr. Westmoreland, Mr. McHenry, Mrs. Ellmers, Mr. Rooney, Mr. Roe of Tennessee, Mr. Sessions, Mr. DeSantis, Mr. Duncan of Tennessee, Mr. Rogers of Alabama, Mr. Mica, Mr. Schweikert, Mr. Walberg, Mr. Hastings of Washington, Mr. Yoder, Mr. Coble, Mr. Thompson of California, Mr. Carson of Indiana, Mr. Loebsack, Mr. Peters of Michigan, Mr. Bishop of Georgia, Ms. Titus, Ms. Wasserman Schultz, Mr. David Scott of Georgia, Mr. Enyart, Mrs. Negrete McLeod, Mr. Cartwright, Mr. Grijalva, Ms. Kuster, Mr. Pastor of Arizona, Mr. Foster, Mrs. Napolitano, Mr. Horsford, Mr. Lewis, and Mr. Maffei) 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, 2013.


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