Equine Tax Parity Act

Background

Under the current federal tax code, gains from sales by individuals of property used in a trade or business, including horses, qualify for long-term capital gains and are subject to the maximum capital gains tax rate of 15% for taxpayers earning less than $450,000 or 20% for those earning more.  Since the individual income tax rate can go as high as 39.6%, the lower rate is a real advantage. 

AHC Position

The AHC supports this bill.

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Federal Legislation Banning Medication in Racing Introduced

Background

On June 5, 2015, Representatives Joe Pitts (R-PA), Jan Schakowsky (D-IL), and Anna Eshoo (D-CA) introduced the Horseracing Integrity and Safety Act of 2015 to regulate/prohibit substances, drugs, medications, and treatments that may be used in racing.  The legislation is basically the same as the bill they introduced in the last Congress.

The bill calls for an “independent anti-doping organization” to be responsible for “ensuring the integrity of horse races that are the subject of interstate off-track wagers and the safety of persons involved in such horseraces.”  The bill gives this anti-doping organization authority to permit/prohibit the drugs and medications that may be administered to a horse in a race subject to an interstate off-track wager and set the withdrawal period for its administration.

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Horse Transportation Safety Act of 2015

Introduction

Senator Mark Kirk (R-IL) and Congressman Steve Cohen (D-TN) have introduced the Horse Transportation Safety Act of 2015 (S.946/H.R.1282).  The bill would prohibit the interstate transport of any horse in a double-deck truck. Similar bills have been introduced in the last several Congresses.

AHC Position

The AHC opposes this bill unless it is amended to accommodate the transport of rodeo horses in specially-designed double-deck trailers.     

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Internet Gaming

Introduction

The Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in 2006 to prohibit Internet wagering.  UIGEA does not prohibit Internet wagering directly.  Rather the law bars banks and credit card companies from processing payments for such wagering by prohibiting the use of credit in connection with unlawful Internet wagering, effectively outlawing such gambling. 

AHC Position

Although no legislation has been introduced at this point, the AHC is closely following the Internet gaming issue in Congress and ensuring that no legislation would adversely affect whatever forms of wagering racing can offer interstate and over the Internet under the IHA.

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Legislation Introduced to Amend Federal Sports Betting Ban

Background

The Professional and Amateur Sports Protection Act (PASPA) was enacted in 1992 and prohibits any state from initiating new forms of sports betting.  Nevada, Delaware and Oregon were exempt since they offered forms of such wagering then.  New Jersey was given two years, until 1994, to institute sports betting before the opportunity closed for that state.  Pari-mutuel racing was exempted from the prohibitions on sports betting when the law was passed and still is. 

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Restoration of America’s Wire Act

Introduction

Legislation has been introduced in Congress to amend the 1961 Federal Wire Act to ban all forms of interstate wagering, except horse racing.  The bill, named the Restoration of America’s Wire Act, was introduced by Congressman Jason Chaffetz (R-UT) (H.R. 707) in the House and Senator Lindsay Graham (R-SC) (S. 1668).  The legislation would amend the Federal Wire Act – the 1961 federal law that prohibits interstate wagering – to in effect prohibit interstate Internet gaming.

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The Race Horse Cost Recovery Act

Background

The 2008 Farm Bill included language that allowed all race horses to be depreciated over three years, regardless of their age when placed in service.  This 2008 change to the tax code “sunseted” or expired at the end of 2014.  Congress must extend it. 

AHC Position

The AHC supports this bill.

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The Safeguard American Food Exports Act of 2015

Introduction

Investigations in the European Union several years ago found that horse meat had been mixed with beef in food.  This prompted concerns about the misleading sales of beef and concerns about the introduction into the food supply of medications and drugs that may have been in the horsemeat.

These incidents have changed the focus of legislation introduced in Congress to prohibit the sale of horses or horsemeat for human consumption.  While bills had been introduced in the last several Congresses to prohibit the slaughter of horses for food, more recent bills would cited health concerns as the rationale for legislation dealing with the slaughter of horses for food.

AHC Position

The AHC is neutral on this legislation.

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