Legislators
Bills
Statements
Lobbying
Travel
- Bills
- H.R.998
H.R.998: To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months.
About This Bill
- Introduced March 6, 2013
- Latest Major Action March 6, 2013
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
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).
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
March 6, 2013 |
Referred to the House Committee on Ways and Means.
|
March 6, 2013 |
Introduced in the House by Andy Barr (R-Ky.) |