US Codex
Bill
Notes

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.

H.R. 998 · 113th Congress · Mar 6, 2013 · Lineage

A BILL

Section 1 Reduction of holding period to 12 months for purposes of determining whether horses are section 1231 assets

(a)
In general— Subparagraph (A) of section 1231(b)(3) 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, 2012.