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S 1409 106th Congress Senate

A bill to amend the Internal Revenue Code of 1986 to reduce from 24 months to 12 months the holding period used to determine whether horses are assets described in section 1231 of such Code.

Introduced: July 21, 1999 Introduced by: McConnell, Mitch Republican · Kentucky See on congress.gov
Taxation Agriculture and FoodAnimalsBusiness income taxCapital gains tax
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CommerceDepreciation and amortizationHorsesIncome taxTax deductions
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 21, 1999
Read twice and referred to the Committee on Finance.
Jul 21, 1999
Sponsor introductory remarks on measure. (CR S8956)
Jul 21, 1999
Introduced in Senate
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 Latest action July 21, 1999

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to reduce from 24 to 12 months the holding period used to determine whether horses are section 1231 (property used in the trade or business and involuntary conversions) assets.
 Related & companion bills 1
  • HR 1174 Identical bill To amend the Internal Revenue Code of 1986 to reduce from 24 months to 12 months the holding period used to determine w…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1409: A bill to amend the Internal Revenue Code of 1986 to reduce from 24 months to 12 months the holding period used to determine whether horses are assets described in section 1231 of such Code.. 106th Congress. Open America. https://openamerica.io/bill/106-S-1409/
MLA
"S. 1409: A bill to amend the Internal Revenue Code of 1986 to reduce from 24 months to 12 months the holding period used to determine whether horses are assets described in section 1231 of such Code.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-1409/.
Bluebook (legal)
S. 1409, 106th Cong. (2026), https://openamerica.io/bill/106-S-1409/.
Markdown link
[S. 1409: A bill to amend the Internal Revenue Code of 1986 to reduce from 24 months to 12 months the holding period used to determine whether horses are assets described in section 1231 of such Code.](https://openamerica.io/bill/106-S-1409/)
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