Equine Equity Act of 2005

Bill Number

HR 4151

Introduced

Oct 26, 2005

Latest Action

Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequ ...

Sponsor

Cosponsors

Topics

Agricultural credit Agricultural subsidies Agriculture and Food Animal breeding Animals Capital gains tax Depreciation and amortization Disaster loans Disaster relief Economics and Public Finance Emergency Management Federally-guaranteed loans Feeds Government lending Horse racing Horses Income tax Livestock Sports and Recreation Tax deductions Taxation

Full Text

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Votes

Summary

Equine Equity Act of 2005 - Amends the Internal Revenue Code to: (1) treat any race horse as three-year property for depreciation purposes; and (2) reduce to 12 months the holding period for capital gains treatment of horses.

Directs the Secretary of Agriculture to include horses in livestock assistance, compensation, or feed programs. Amends certain agricultural acts to qualify horses for disaster and other assistance programs.

Amends the Consolidated Farm and Rural Development Act to qualify horse breeders for emergency loans under the agricultural credit program.

Actions

Oct 26, 2005

Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 26, 2005

Introduced in House

Amendments

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