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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
|You can||read the bill|
|Sponsor||Andy Barr, R-Ky.|
|Introduced||March 6, 2013|
|Latest Major Action||March 6, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
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: Congressional Research Service)
|March 6, 2013||Referred to the House Committee on Ways and Means.|