[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 673 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 673

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 11, 2011

 Mr. Heller (for himself, Mr. Thompson of California, Ms. Berkley, Mr. 
Jones, Mr. Burton of Indiana, Ms. Wasserman Schultz, Mr. McCotter, Mr. 
Posey, and Mr. Scott of Virginia) 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 2011''.

SEC. 2. 7-YEAR CLASS LIFE FOR MOTORSPORTS ENTERTAINMENT COMPLEX 
              FACILITIES MADE PERMANENT.

    (a) In General.--Paragraph (15) of section 168(i) 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, 2011.
                                 <all>