Race Horse Cost Recovery Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1113 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1113 To amend the Internal Revenue Code of 1986 to allow a 3-year recovery period for all race horses. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 7, 2025 Mr. Barr (for himself and Mr. McGarvey) 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 2025''. 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, 20…