To amend the Internal Revenue Code of 1986 to modify the application of the passive loss limitations to equine activities.
Equine Tax Fairness Act of 1997 - Amends Internal Revenue Code provisions limiting passive activity losses and credits to modify the definition of material participation with respect to the treatment of equine activities (breeding, racing, or showing horses).
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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