A bill to amend the Internal Revenue Code of 1986 to allow a 7-year applicable recovery period for depreciation of motorsports entertainment complexes.
Amends the Internal Revenue Code to classify any motorsports entertainment complex asset as 7-year property for purposes of the accelerated cost recovery system.
Actions
Jul 31, 2003
Read twice and referred to the Committee on Finance.
Jul 31, 2003
Sponsor introductory remarks on measure. (CR S10648)