[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3672 Introduced in House (IH)]

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114th CONGRESS
  1st Session
                                H. R. 3672

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.


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                    IN THE HOUSE OF REPRESENTATIVES

                            October 1, 2015

   Mr. Barr introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Equine Tax Parity Act''.

SEC. 2. REDUCTION OF HOLDING PERIOD TO 12 MONTHS FOR PURPOSES OF 
              DETERMINING WHETHER HORSES ARE SECTION 1231 ASSETS.

    (a) In General.--Section 1231(b)(3)(A) of the Internal Revenue Code 
of 1986 is amended by striking ``and horses''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2015.
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