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H.R. 3672

Equine Tax Parity Act

Equine Tax Parity Act

This bill amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).

Referred to the House Committee on Ways and Means.

Rep. Barr, Andy [R-KY-6](R-KY)Sponsor
1committees3actions3subjects
  1. IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  2. IntroReferralIntro-H

    Introduced in House

  3. IntroReferral1000

    Introduced in House

Equine Tax Parity Act — Informed