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H.R.4786 - Race Horse Cost Recovery Act of 2019116th Congress (2019-2020) |

Bill

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Sponsor: Rep. Barr, Andy [R-KY-6] (Introduced 10/22/2019)
Committees: House - Ways and Means
Latest Action: House - 10/22/2019 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

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  • Constitutional Authority Statement
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Text: H.R.4786 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (10/22/2019)


116th CONGRESS
1st Session
H. R. 4786


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

IN THE HOUSE OF REPRESENTATIVES

October 22, 2019

Mr. Barr 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 2019”.

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, 2017.

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