| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | I | |
| 2 | 2 | 119THCONGRESS | |
| 3 | 3 | 1 | |
| 4 | 4 | STSESSION H. R. 1113 | |
| 5 | 5 | To amend the Internal Revenue Code of 1986 to allow a 3-year recovery | |
| 6 | 6 | period for all race horses. | |
| 7 | 7 | IN THE HOUSE OF REPRESENTATIVES | |
| 8 | 8 | FEBRUARY7, 2025 | |
| 9 | 9 | Mr. B | |
| 10 | 10 | ARR(for himself and Mr. MCGARVEY) introduced the following bill; | |
| 11 | 11 | which was referred to the Committee on Ways and Means | |
| 12 | 12 | A BILL | |
| 13 | 13 | To amend the Internal Revenue Code of 1986 to allow a | |
| 14 | 14 | 3-year recovery period for all race horses. | |
| 15 | 15 | Be it enacted by the Senate and House of Representa-1 | |
| 16 | 16 | tives of the United States of America in Congress assembled, 2 | |
| 17 | 17 | SECTION 1. SHORT TITLE. 3 | |
| 18 | 18 | This Act may be cited as the ‘‘Race Horse Cost Re-4 | |
| 19 | 19 | covery Act of 2025’’. 5 | |
| 20 | 20 | SEC. 2. THREE-YEAR DEPRECIATION FOR RACE HORSES. 6 | |
| 21 | 21 | (a) I | |
| 22 | 22 | NGENERAL.—Section 168(e)(3)(A)(i) of the In-7 | |
| 23 | 23 | ternal Revenue Code of 1986 is amended to read as fol-8 | |
| 24 | 24 | lows: 9 | |
| 25 | 25 | ‘‘(i) any race horse,’’. 10 | |
| 26 | 26 | VerDate Sep 11 2014 06:24 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1113.IH H1113 | |
| 27 | 27 | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 | |
| 28 | 28 | •HR 1113 IH | |
| 29 | 29 | (b) EFFECTIVEDATE.—The amendments made by 1 | |
| 30 | 30 | this section shall apply to property placed in service after 2 | |
| 31 | 31 | December 31, 2022. 3 | |
| 32 | 32 | Æ | |
| 33 | 33 | VerDate Sep 11 2014 06:24 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1113.IH H1113 | |
| 34 | 34 | kjohnson on DSK7ZCZBW3PROD with $$_JOB |