3.0.0 2927 2024-07-24T15:22:29Z 2024-07-24T15:22:29Z House H HR 2023-04-27 118 [Congressional Record Volume 169, Number 71 (Thursday, April 27, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 2927.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the United States ConstitutionThe single subject of this legislation is:This bill would reduce the holding period for equine assetsto be considered long term capital gains to 12 months,putting them on a level playing field with other similarassets.[Page H2086]]]> hswm00 Ways and Means Committee House Standing Referred to 2023-04-27T13:06:10Z 2023-04-27 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-04-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-04-27 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N M001220 Rep. McGarvey, Morgan [D-KY-3] Morgan McGarvey D KY 3 2023-04-27 True Taxation Taxation 2023-05-10T20:15:16Z 00 2023-04-27 Introduced in House 2023-05-22T14:01:49Z Equine Tax Fairness Act

This bill modifies the 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 for long-term capital gains).

]]> Racehorse Tax Parity Act Display Title 45 Racehorse Tax Parity Act 2024-07-24T15:22:29Z Short Title(s) as Introduced 101 Racehorse Tax Parity Act 2024-05-24T13:40:30Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months. 2024-03-18T20:42:12Z Introduced in House IH Introduced in House 2023-04-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr2927ih/xml/BILLS-118hr2927ih.xml 2023-04-27 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.