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HR 3672 114th Congress House Taxation Capital gains tax Mammals Professional sports

Equine Tax Parity Act

Introduced: October 1, 2015 Introduced by: Barr, Andy Republican · Kentucky See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 2015
Referred to the House Committee on Ways and Means.
Oct 1, 2015
Introduced in House
 Plain-English summary Congressional Research Service

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).

What's happening now October 1, 2015

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1