I 115th CONGRESS 1st Session H. R. 1805 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 reduce the holding period used to determine whether horses are section 1231 assets to 12 months.

1. Short title This Act may be cited as the Equine Tax Parity Act of 2017 . 2. Reduction of holding period to 12 months for purposes of determining whether horses are section 1231 assets (a) In general Section 1231(b)(3)(A) of the Internal Revenue Code of 1986 is amended by striking and horses . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2017.