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HR 3087 IH
112th CONGRESS
1st Session
H. R. 3087
To amend the Internal Revenue Code of 1986 to make permanent the depreciation classification of motorsports entertainment complexes.
IN THE HOUSE OF REPRESENTATIVES
October 4, 2011
Mr. BUCHANAN (for himself, Mr. THOMPSON of California, Ms. BERKLEY, Mr. MICA, Mr. BURTON of Indiana, Mr. REED, Mr. CARSON of Indiana, Mr. WALBERG, Mr. MCHENRY, Mr. DIAZ-BALART, Mr. SESSIONS, Mr. WESTMORELAND, Mr. HURT, Mr. POSEY, and Mr. MANZULLO) 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.
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.
U.S. Congress - Text of H.R.3087 as Introduced in House Motorsports Fairness and Permanency Act of 2011
