House Bill 4786
116th Congress(2019-2020)
Race Horse Cost Recovery Act of 2019
Introduced
Introduced in House on Oct 22, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4786
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Race Horse Cost Recovery Act of 2019
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, 2018, and race horses placed in service after December 31, 2017, that are more than two years old when placed in service by the purchaser.)
October 22, 2019
10/22/2019
Referred to the House Committee on Ways and Means.
10/22/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 4:17:47 AM