According to the American Horse Council, "On October 1, 2015, Congressman Andy Barr (R-KY) re-introduced the Race Horse Cost Recover Act (H.R. 3671) and Equine Tax Parity Act (H.R. 3672). The Race Horse Cost Recover Act would permanently place all race horses in the three-year category for tax depreciation purposes. A 2008 provision that temporarily put race horses in the three year category expired at the end of 2014. The Equine Tax Parity Act would make horses eligible for capital gains treatment after 12 months, rather than 24, similar to other business assets." Click here for more info.