HOUSE 2926118th CongressReferred to the House Committee on Ways and Means.
Race Horse Cost Recovery Act of 2023
- Last Action
- 4/27/2023
Actions
- 2023-04-27Referred to the House Committee on Ways and Means.
- 2023-04-27Introduced in House
- 2023-04-27Introduced in House
CRS Summary
As of 2023-04-27 (00)
Race Horse Cost Recovery Act of 2023
This bill amends the Internal Revenue Code to modify the accelerated depreciation allowance for race horses to allow a three-year recovery period for any race horse. (Current law limits the three-year recovery period to race horses placed in service before January 1, 2022, and race horses placed in service after December 31, 2021, that are more than two years old at the time they are placed in service.)
Cosponsors (2)
- Morgan McGarvey (D-KY)
- Andrew Garbarino (R-NY)
Sourced from Congress.gov (public domain).
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