You know I'm a finance geek when I...

check out paragraph 317 in the 451 page bailout bill that passed.

SEC. 317. SEVEN-YEAR COST RECOVERY PERIOD FOR MO2
TORSPORTS RACING TRACK FACILITY.
3 (a) IN GENERAL.—Subparagraph (D) of section
4 168(i)(15) (relating to termination) is amended by strik5
ing ‘‘December 31, 2007’’ and inserting ‘‘December 31,
6 2009’’.
7 (b) EFFECTIVE DATE.—The amendment made by
8 this section shall apply to property placed in service after
9 December 31, 2007.
10 SEC.

Race tracks get treated like amusement parks and will be able to save on their tax bill!

Gotta love pork.

best,

 

I have no clue how you came across that bit, or even to see a copy of this infamous bailout. There are quite a few strange inclusions I’ve heard of. One was specifically designed to help an arrow manufacturer, as in bow and arrow!

 

Finally the Gov does something smart. Too many good tracks are getting closed down due to the cost of maintaining them and well people not liking them down the street. If it was me I would love it down the block from my house.

 

that was a tax break for a company that makes wooden toy arrows for children, because if arrows are made of anything other than plastic theyre not considerd a toy and are taxed the crazy ammunition tax or whatever, its something like 100% tax on the retail value, so THAT piece of pork wasnt bad, if you can even call that pork?


but its nice to see tax breaks going to race tracks, which would make tracks more accessible to scratch that itch we all have

 

Well it's all pork in the end.

Unfortunately it looks like the track thing won't help tomany tracks in the NW but maybe Portland (they just repaved) and ORP which did as well.