The U.S. House of Representatives July 10 passed a bill to amend the Internal Revenue Code of 1986 to modify and make permanent the bonus depreciation, according to an American Horse Council advisory.
A U.S. House of Representatives subcommittee has scheduled a hearing on horse racing safety and integrity Nov. 21 at 10 a.m. EST at the Rayburn House Office Building in Washington, D.C.
Legislation calling for a study of Internet gambling, including the impact of the Unlawful Internet Gambling Enforcement Act of 2006, has been introduced in the U.S. House of Representatives.
The United States House of Representatives passed the Internet Gambling Prohibition and Enforcement Act July 11 by a vote of 317-93, but defeated an amendment that would extended the proposed ban on Internet gambling to horse racing and state lotteries by apparently superseding existing federal law.
Jimmy Winkfield, an African-American jockey who won back-to-back editions of the Kentucky Derby, has been honored in a resolution passed by the United States House of Representatives May 5.
The United States Senate on July 15 agreed by voice vote to send the foreign sales corporation bill, which includes provisions to eliminate the 30% withholding tax on winnings by foreign bettors and reduce the capital gains holding period for horses from two years to one, to conference.
A provision to eliminate the 30% withholding tax on foreigners who wager on pari-mutuel racing in the United States is part of a broad military tax-break bill scheduled to be addressed March 6 by the U.S. House of Representatives.
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