,i #aacth ,,congress #ast ,session ,h4 ,r4 #iih ,,in ,,the ,,house ,,of ,,representatives ,march #f1 #bjac ,mr4 ,barr introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to reduce the holding period used to determine whether horses are section #abca assets to #ab months4 #a4 ,reduction of holding period to #ab months for purposes of determining whether horses are section #abca assets 7a7 ,in general ,subparagraph 7,a7 of section #abca7;b77#c7 of the ,internal ,revenue ,code of #aihf is amended by striking and horses4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjab4