A bill to amend the Internal Revenue Code of 1986 to provide for the tax treatment of horses, and for other purposes.
Equine Equity Act of 2007 - 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.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5309)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5309)
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