10-02-2008, 10:30 AM
Yes, Congress has added pork barrel to include funding and rebuilding of racetrack facillities. Not sure how this helps the average homeowner. Now if they can allocate some of that for grass at NJMP and proper repaving at Summit, and moving the blue bushes back at the Glen, and improving Shenandoah, and .........................
Written in the 400 plus pages of the bailout plan:
SEC.317 SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK FACILITY.
(a) IN GENERAL.—Subparagraph (D) of section 168(i)(15) (relating to termination) is amended by striking ‘‘December 31, 2007’’ and inserting ‘‘December 31, 2009’’.
(b) EFFECTIVE DATE.—The amendment made by this section shall apply to property placed in service after December 31, 2007.
Written in the 400 plus pages of the bailout plan:
SEC.317 SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK FACILITY.
(a) IN GENERAL.—Subparagraph (D) of section 168(i)(15) (relating to termination) is amended by striking ‘‘December 31, 2007’’ and inserting ‘‘December 31, 2009’’.
(b) EFFECTIVE DATE.—The amendment made by this section shall apply to property placed in service after December 31, 2007.