[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2137 Introduced in House (IH)]

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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.


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                    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

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                                 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.
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