,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #ahjf  ,,in ,,the ,,house ,,of  
,,representatives  ,march #cj1 #bjag,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
 allow the expensing of race horses4    
#a4 ,election to expense race horses    
7a7 ,in general ,part ,,vi of subchapter
 ,b of chapter #a of the ,internal      
,revenue ,code of #aihf is amended by   
inserting after section #agi;,e the     
following new section3  #agi;,f4        
,election to expense race horses ,a     
taxpayer may elect to treat the cost of 
any race horse as an expense which is   
not chargeable to capital account4 ,any 
cost so treated shall be allowed as a   
deduction for the taxable year in which 
the race horse is placed in service4  4 
7b7 ,clerical amendment ,the table of   
sections for part ,,vi of subchapter ,b 
of chapter #a of the ,internal ,revenue 
,code of #aihf is amended by inserting  

after the item relating to section      
#agi;,e the following new item3  ,sec4  
#agi;,f4 ,election to expense race      
horses4  4  7c7 ,effective date ,the    
amendments made by this section shall   
apply to property placed in service     
after the date of the enactment of this 
,act4