113 HR 4933 IH: Motorsports Fairness and Permanency Act U.S. House of Representatives 2014-06-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 2d Session H. R. 4933 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.

1.

Short title

This Act may be cited as the Motorsports Fairness and Permanency Act.

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.