To amend the Internal Revenue Code of 1986 to make permanent the depreciation classification of motorsports entertainment complexes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Motorsports Fairness and Permanency Act of 2011''.
SEC. 2. 7-YEAR CLASS LIFE FOR MOTORSPORTS ENTERTAINMENT COMPLEX FACILITIES MADE PERMANENT.
(a) In General.--Paragraph (15) of section 168(i) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D). (b) Effective Date.--The amendment made by this section shall apply to property placed in service after December 31, 2011. <all>