HR 4786
116th Congress
House
Taxation
Business investment and capital
Income tax deductions
Mammals
Professional sports
Race Horse Cost Recovery Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 22, 2019
Referred to the House Committee on Ways and Means.
Oct 22, 2019
Introduced in House
Plain-English summary
Race Horse Cost Recovery Act of 2019
This bill amends the Internal Revenue Code to modify the accelerated depreciation allowance for race horses to allow a three-year recovery period for any race horse. (Current law limits the three-year recovery period to race horses placed in service before January 1, 2018, and race horses placed in service after December 31, 2017, that are more than two years old when placed in service by the purchaser.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1