Equine Equity Act of 2005
Last action on Oct 26, 2005Referred to the Committee on Ways and Means, and in addit...
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Summary
Equine Equity Act of 2005 - Amends the Internal Revenue Code to: (1) treat any race horse as three-year property for depreciation purposes; and (2) reduce to 12 months the holding period for capital gains treatment of horses.
Directs the Secretary of Agriculture to include horses in livestock assistance, compensation, or feed programs. Amends certain agricultural acts to qualify horses for disaster and other assistance programs.
Amends the Consolidated Farm and Rural Development Act to qualify horse breeders for emergency loans under the agricultural credit program.
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