[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4674 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 4674

To amend the Internal Revenue Code of 1986 to make permanent the 7-year 
        recovery period for motorsports entertainment complexes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 22, 2021

  Mr. Thompson of California (for himself, Ms. Sewell, Mrs. Murphy of 
    Florida, Mr. Posey, Mr. Reed, and Mrs. Walorski) 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.

    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 2021''.

SEC. 2. 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS ENTERTAINMENT COMPLEXES 
              MADE PERMANENT.

    Section 168(i)(15) of the Internal Revenue Code of 1986 is amended 
by striking subparagraph (D).
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