H.R.4151 - Equine Equity Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Lewis, Ron [R-KY-2] (Introduced 10/26/2005)|
|Committees:||House - Ways and Means; Agriculture|
|Latest Action:||House - 10/26/2005 Referred to House Agriculture (All Actions)|
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Summary: H.R.4151 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (10/26/2005)
Equine Equity Act of 2005 - Amends the Internal Revenue Code to: (1) treat any race horse as three-year property for depreciation purposes; and (2) reduce to 12 months the holding period for capital gains treatment of horses.
Directs the Secretary of Agriculture to include horses in livestock assistance, compensation, or feed programs. Amends certain agricultural acts to qualify horses for disaster and other assistance programs.
Amends the Consolidated Farm and Rural Development Act to qualify horse breeders for emergency loans under the agricultural credit program.