Text: H.R.2137 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (04/08/2019)


116th CONGRESS
1st Session
H. R. 2137


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

April 8, 2019

Mr. Thompson of California (for himself, Mr. Reed, and Mr. Posey) 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 of 2019”.

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, 2017.