HR 2927
118th Congress
House
Taxation
Racehorse Tax Parity Act
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
Equine Tax Fairness Act
This bill modifies the 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 for long-term capital gains).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1