I
119th CONGRESS
1st Session
H. R. 1113
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.
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, 2022.