Barr and McGarvey Introduce Legislation to Incentivize Investment in Kentucky's Signature Equine Industry
April 28, 2023
April 28, 2023
WASHINGTON, April 28 -- Rep. Andy Barr, R-Kentucky, issued the following news release:
Congressmen Barr and McGarvey reintroduced two pieces of legislation to incentivize investment in Kentucky's signature equine industry. The Race Horse Cost Recovery Act of 2023 would make the three-year depreciation schedule permanent for racehorses, regardless of their age when put into service. Currently, Congress must reauthorize this provision in the tax law on an annual basis. The Raceho . . .
Congressmen Barr and McGarvey reintroduced two pieces of legislation to incentivize investment in Kentucky's signature equine industry. The Race Horse Cost Recovery Act of 2023 would make the three-year depreciation schedule permanent for racehorses, regardless of their age when put into service. Currently, Congress must reauthorize this provision in the tax law on an annual basis. The Raceho . . .