[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1304 Introduced in House (IH)]







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.


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                    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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