[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1400 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1400

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


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                   IN THE SENATE OF THE UNITED STATES

                              July 7, 2009

  Ms. Stabenow (for herself, Mr. Roberts, Mr. Schumer, Mr. Chambliss, 
   Mrs. Hagan, Mr. Burr, Mrs. Shaheen, Mr. Graham, Ms. Landrieu, Mr. 
 Lugar, Mr. Kyl, Mr. Durbin, and Mr. Isakson) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 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''.

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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