Equine Equity Act of 2005

Fact Sheet API

Bill Number

S 1528

Introduced

Jul 28, 2005

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9293-9294)

Sponsor

Cosponsors

Topics

Agricultural subsidies Agriculture and Food Animals Capital gains tax Depreciation and amortization Disaster relief Emergency Management Feeds 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.

Actions

Jul 28, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9293-9294)
Jul 28, 2005

Sponsor introductory remarks on measure. (CR S9293)
Jul 28, 2005

Introduced in Senate

Amendments

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