I 115th CONGRESS 1st Session H. R. 1806 IN THE HOUSE OF REPRESENTATIVES March 30, 2017 Mr. Barr introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow the expensing of race horses.

1. Election to expense race horses (a) In general Part VI of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 179E the following new section: 179F. Election to expense race horses A taxpayer may elect to treat the cost of any race horse as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the race horse is placed in service. . (b) Clerical amendment The table of sections for part VI of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 179E the following new item: Sec. 179F. Election to expense race horses. . (c) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.