H. R. 2137
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
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 of 2019.
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, 2017.