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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, 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., changes federal law or congressional policy affecting federal agencies and legislative administrators. The main policy domain is Government Operations.
Who Benefits and How
federal agencies and legislative administrators may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H0BA794BB2350410BB47E4EBD7648E580: 1. Short title This Act may be cited as the Racehorse Tax Parity Act.
- Section HFC9DC19D83E843429A721C562EFBA34A: 2. Reduction of holding period to 12 months for purposes of determining whether horses are section 1231 assets Subparagraph (A) of section 1231(b)(3) of the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, 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., changes federal law or congressional policy affecting federal agencies and legislative administrators.
Key Policy Areas
Government Operations
Primary Purpose
This bill, 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., changes federal law or congressional policy affecting federal agencies and legislative administrators.
Policy Domains
Whole bill
Identified Gains
- federal agencies and legislative administrators
Identified Costs
- federal implementing agencies
Sponsors
Andy Barr
R-KY | Primary Sponsor
Legislative Progress
IntroducedMr. Barr (for himself and Mr. McGarvey) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology