HR 4786 · 116th Congress · Taxation

Race Horse Cost Recovery Act of 2019

Introduced 2019-10-22· Sponsored by Rep. Barr, Andy [R-KY-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2019-10-22)

Plain Language Summary

[AI summary unavailable — showing source text] 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.)…

Summarized by Claude AI · Non-partisan · For informational purposes only