HR 2926
118th Congress
House
Taxation
Race Horse Cost Recovery Act of 2023
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 27, 2023
Referred to the House Committee on Ways and Means.
Apr 27, 2023
Introduced in House
Plain-English summary
Race Horse Cost Recovery Act of 2023
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, 2022, and race horses placed in service after December 31, 2021, that are more than two years old at the time they are placed in service.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1