Code Section 168
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate (millions of dollars) |
|---|---|---|---|---|
| 168 | 12/31/2009 | The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 | 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements |
-3,629 |
| 168 | 12/31/2009 | The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 | 7-year recovery period for motorsports entertainment complexes | -36 |
15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements
Explanation of Provision
The present law provisions for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property are extended for two years to apply to property placed in service on or before December 31, 2011.
7-year recovery period for motorsports entertainment complexes
Explanation of Provision
The provision extends the present law seven-year recovery period for motorsports entertainment complexes two years to apply to property placed in service before January 1, 2012.
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