US HB998 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 6 2013 - 25% progression, died in committee
Action: 2013-03-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 6 2013 - 25% progression, died in committee
Action: 2013-03-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).
Title
To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months.
Sponsors
| Rep. Garland Barr [R-KY] |
History
| Date | Chamber | Action |
|---|---|---|
| 2013-03-06 | House | Referred to the House Committee on Ways and Means. |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/house-bill/998/all-info |
| Text | https://www.congress.gov/113/bills/hr998/BILLS-113hr998ih.pdf |
