H. R. 1549
IN THE HOUSE OF REPRESENTATIVES
March 23, 2015
Mr. Reed (for himself, Mr. Thompson of California, Mr. DeSantis, Mr. Kinzinger of Illinois, Mr. Bishop of Georgia, Mr. Mica, Mr. Cartwright, Mr. Posey, Ms. Wasserman Schultz, Mr. Hudson, Mr. Gallego, Mr. Roe of Tennessee, Ms. Kuster, Mr. Westmoreland, Mrs. Napolitano, Mr. Schweikert, Mr. David Scott of Georgia, Ms. Titus, Mr. Yoder, Mrs. Torres, Mr. Valadao, and Mr. Foster) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes.
This Act may be cited as the
Motorsports Fairness and Permanency Act.
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).
The amendment made by this section shall apply to property placed in service after December 31, 2014.