Motorsports Fairness and Permanency Act

Bill: 113-s-1826
Sponsor: full_name: Sen. Stabenow, Debbie [D-MI]
Introduced: 2013-12-13
Policy area: Taxation
Subjects: Business investment and capital

Income tax deductions

Motor vehicles

Sports and recreation facilities
Latest action: action_date: 2013-12-13
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2013-12-13
action_desc: Introduced in Senate
text: <p>Motorsports Fairness and Permanency Act - Amends the Internal Revenue Code to make permanent the classification, for depreciation purposes, of any motorsports entertainment complex as seven-year property.</p>

tv_txt: II 113th CONGRESS 1st Session S. 1826 IN THE SENATE OF THE UNITED STATES December 13 (legislative day, December 11), 2013 Ms. Stabenow (for herself, Mr. Burr , Mr. Cochran , Mrs. Hagan , Mr. Heller , Mr. Nelson , Ms. Landrieu , Mr. Moran , Mrs. Shaheen , and Mr. Wicker ) 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).