Brigita's Blog: Congress Passes Bills With Provisions Favorable To Horse Industry

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Congress Passes Bills With Provisions Favorable To Horse Industry

 

Congress Pass Bills With Provisions Favorable To Horse Industry

 

Congress ended the year 2015 with productivity by passing major legislation of several bills that include provisions favorable to the horse industry which were priorities for the American Horse Council.

 

One of the bills was the tax extender bill: "Protecting Americans from Tax Hikes Act of 2015".  This bill re-instates three year depreciation for all race horses for tow more years.  It also increases the business expense deduction back to $500,000, making the provision permanent.  This bill also restores depreciation for qualifying new property, which include assets used in the horse business, such as horses and other equipment purchased and placed in service during 2015 through 2019.  The bill includes restoring and making permanent favorable tax treatment for land donated for conservation purposes, particularly land donated by farmers and ranchers, such as horse owners and breeders.

 

These provisions will benefit everyone in the horse business.  Most importantly, horse breeders, and farms, can now make long term plans taking advantage of these tax provisions.

 

Trail riding in PennsylvaniaThe other bill that was passed the the national highway bill which was the "Fixing America's Surface Transportation Act", or the FAST Act.  This bill provides $85 million annually for the program over the next five years.  Funding will be provided directly to the states for recreational trails and trail-related facilities for all recreational trail users.  This greatly benefits the equestrians.

 

The bill will provide funding and matching grants to federal, state and local governments to acquire land and water for recreation and protection of natural resources.  This will help provide equestrians with increased trail riding opportunities.

 

The third bill that was passed was "The Prevent All Soring Tactics Act".  This would end all soring of Tennessee Walking Horses.

 

These bills will greatly impact the horse industry in 2016.  

 

Brigita McKelvie is a REALTOR®  (Pennsylvania License #RS297130) with Cindy Stys Equestrian & Country Properties, specializing in rural and horse properties and farms in Eastern Pennsylvania.  She has an e-Pro® (Certified Internet Expert) certification and a GRI (Graduate, REALTOR® Institute) designation.  

Brigita McKelvie, REALTOR

Pennsylvania License #RS297130

Rural and Horse Properties and Farms

 

Cindy Stys Equestrian & Country Properties, Ltd.Cindy Stys Equestrian & Country Properties, Ltd.

 

The Premier Equine and Country Real Estate firm serving Eastern Pennsylvania from back yard operations to world class equestrian facilities.

Use a REALTOR with "horse sense" that doesn't horse around when it comes to horse properties.

 

 

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Comment balloon 2 commentsBrigita McKelvie, Associate Broker • January 11 2016 08:30AM

Comments

Brigita,
I don’t how it can enforced but I’m glad to see "The Prevent All Soring Tactics Act" was passed.

Posted by David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation, Relocation, Luxury & Lifestyle residential (Colorado Real Estate Advisers LLC ) over 3 years ago

David,

So am I.  This has been something the American Horse Council has been trying to pass for a long time.

Brigita

Posted by Brigita McKelvie, Associate Broker, The Broker with horse sense and no horsing around (Cindy Stys Equestrian and Country Properties, Ltd.) over 3 years ago

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