[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2926 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 2926

 To amend the Internal Revenue Code of 1986 to allow a 3-year recovery 
                      period for all race horses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 27, 2023

Mr. Barr (for himself and Mr. McGarvey) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to allow a 3-year recovery 
                      period for all race horses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Race Horse Cost Recovery Act of 
2023''.

SEC. 2. THREE-YEAR DEPRECIATION FOR RACE HORSES.

    (a) In General.--Section 168(e)(3)(A)(i) of the Internal Revenue 
Code of 1986 is amended to read as follows:
                            ``(i) any race horse,''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2020.
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