A bill 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).
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3901)
Read twice and referred to the Committee on Finance.
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