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S 1251 110th Congress Senate

Equine Equity Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for the tax treatment of horses, and for other purposes.

Introduced: April 30, 2007 Introduced by: McConnell, Mitch Republican · Kentucky See on congress.gov
Taxation AnimalsCapital gains taxDepreciation and amortizationHorse racing
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HorsesIncome taxSports and RecreationTax deductions
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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
Apr 30, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5309)
Apr 30, 2007
Sponsor introductory remarks on measure. (CR S5309)
Apr 30, 2007
Introduced in Senate
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 Latest action April 30, 2007

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5309)

 Plain-English summary Congressional Research Service

Equine Equity Act of 2007 - Amends the Internal Revenue Code to: (1) treat any race horse as three-year property for depreciation purposes; and (2) reduce to 12 months the holding period for capital gains treatment of horses.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1251: Equine Equity Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-1251/
MLA
"S. 1251: Equine Equity Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1251/.
Bluebook (legal)
S. 1251, 110th Cong. (2026), https://openamerica.io/bill/110-S-1251/.
Markdown link
[S. 1251: Equine Equity Act of 2007](https://openamerica.io/bill/110-S-1251/)
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