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Text of the Motorsports Fairness and Permanency Act

This bill was introduced on June 9, 2011, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jun 9, 2011 (Introduced).

Source: GPO

II

112th CONGRESS

1st Session

S. 1174

IN THE SENATE OF THE UNITED STATES

June 9, 2011

(for herself, Mr. Roberts, Mr. Nelson of Florida, Mrs. Hagan, Mr. Burr, and Mr. Kyl) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To provide predictability and certainty in the tax law, create jobs, and encourage investment.

1.

Short title

This Act may be cited as the Motorsports Fairness and Permanency Act.

2.

7-year class life for motorsports entertainment complex facilities made permanent

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