This legislation proposes to modify the Internal Revenue Code of 1986 to alter the tax treatment of horses. Its primary purpose is to reduce the required holding period for horses to be considered Section 1231 assets , thereby aligning them with the general rule for other types of livestock. The bill accomplishes this by amending Section 1231(b)(3)(A) of the Code, specifically by striking the language that mandates a 24-month holding period for horses. Consequently, horses would then be subject to the standard 12-month holding period for capital gains and losses treatment. These amendments are scheduled to apply to taxable years beginning after December 31, 2024.