summary
Introduced
04/11/2019
04/11/2019
In Committee
04/11/2019
04/11/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to provide predictability and certainty in the tax law, create jobs, and encourage investment. This bill modifies the requirements for calculating taxable income to make permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes.
AI Summary
This bill, the Motorsports Fairness and Permanency Act of 2019, aims to provide predictability and certainty in the tax law, create jobs, and encourage investment. It makes permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes, which was previously a temporary provision in the Internal Revenue Code of 1986. The bill's amendments would apply to property placed in service after December 31, 2017, providing long-term tax benefits for the motorsports industry and promoting economic growth.
Committee Categories
Budget and Finance
Sponsors (11)
Debbie Stabenow (D)*,
Richard Burr (R),
Lindsey Graham (R),
Maggie Hassan (D),
Doug Jones (D),
Martha McSally (R),
Jerry Moran (R),
Gary Peters (D),
Jeanne Shaheen (D),
Mark Warner (D),
Roger Wicker (R),
Last Action
Read twice and referred to the Committee on Finance. (on 04/11/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/1141/all-info |
| BillText | https://www.congress.gov/116/bills/s1141/BILLS-116s1141is.pdf |
| Bill | https://www.congress.gov/116/bills/s1141/BILLS-116s1141is.pdf.pdf |
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