- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedMarch 30th, 2017
- house Committees
Race horses usually only compete for a few years before they’re retired, so a three-year depreciation schedule more accurately reflects their useful life for tax purposes than the old seven-year schedule.
Owners should have to depreciate their race horses over a seven-year schedule, and the current three-year schedule should be allowed to sunset. Letting that happen could lead to additional tax revenue.