H.R. 2212

Race Horse Cost Recovery Act of 2013

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I

113th CONGRESS

1st Session

H. R. 2212

IN THE HOUSE OF REPRESENTATIVES

May 24, 2013

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.

1.

Short title

This Act may be cited as the Race Horse Cost Recovery Act of 2013.

2.

Three-year depreciation for race horses

(a)

In general

Clause (i) of section 168(e)(3)(A) 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, 2013.