US Congress House Bill 2889 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 59-0)
Status: Introduced on June 25 2015 - 25% progression, died in committee
Action: 2015-06-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Carried Interest Fairness Act of 2015 Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, (3) exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, (4) exempt certain family partnerships from the application of this Act; (5) increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and (6) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

Carried Interest Fairness Act of 2015

Rep. Sander Levin [D-MI]	Sen. Chris Van Hollen [D-MD]	Rep. Charles Rangel [D-NY]	Rep. Jim McDermott [D-WA]
Rep. Keith Ellison [D-MN]	Rep. Bill Pascrell [D-NJ]	Rep. Eleanor Norton [D-DC]	Rep. Elijah Cummings [D-MD]
Rep. Alan Grayson [D-FL]	Rep. Don Beyer [D-VA]	Rep. John Sarbanes [D-MD]	Rep. John Garamendi [D-CA]
Rep. Alan Lowenthal [D-CA]	Rep. Rosa DeLauro [D-CT]	Rep. Janice Schakowsky [D-IL]	Rep. Mark Pocan [D-WI]
Rep. Nydia Velazquez [D-NY]	Rep. John Conyers [D-MI]	Rep. Peter DeFazio [D-OR]	Rep. Bonnie Coleman [D-NJ]
Rep. Luis Gutierrez [D-IL]	Rep. Brian Higgins [D-NY]	Sen. Tammy Duckworth [D-IL]	Rep. Grace Napolitano [D-CA]
Rep. Ann Kirkpatrick [D-AZ]	Rep. Mark Takano [D-CA]	Rep. Paul Tonko [D-NY]	Rep. Frank Pallone [D-NJ]
Rep. Lucille Roybal-Allard [D-CA]	Rep. Robert Scott [D-VA]	Rep. Jose Serrano [D-NY]	Rep. Louise Slaughter [D-NY]
Rep. Alcee Hastings [D-FL]	Rep. Marcy Kaptur [D-OH]	Rep. Mark DeSaulnier [D-CA]	Rep. Earl Blumenauer [D-OR]
Sen. Peter Welch [D-VT]	Rep. Tim Ryan [D-OH]	Rep. Gwen Moore [D-WI]	Rep. Joe Courtney [D-CT]
Rep. Hakeem Jeffries [D-NY]	Rep. Sean Maloney [D-NY]	Rep. Jerrold Nadler [D-NY]	Rep. Barbara Lee [D-CA]
Rep. Betty McCollum [D-MN]	Rep. Raul Grijalva [D-AZ]	Rep. Ruben Gallego [D-AZ]	Rep. James Langevin [D-RI]
Rep. Frederica Wilson [D-FL]	Rep. David Cicilline [D-RI]	Rep. Zoe Lofgren [D-CA]	Rep. James McGovern [D-MA]
Rep. Alma Adams [D-NC]	Rep. Steve Cohen [D-TN]	Rep. Tulsi Gabbard [D-HI]	Rep. Corrine Brown [D-FL]
Rep. David Price [D-NC]	Rep. Sheila Jackson-Lee [D-TX]	Rep. Robert Brady [D-PA]

Date	Chamber	Action
2015-06-25	House	Referred to the House Committee on Ways and Means.
2015-06-25	House	Introduced in House

SB1686 (Same As) 2015-06-25 - Read twice and referred to the Committee on Finance.
HB3555 (Related) 2016-03-23 - Referred to the Subcommittee on Workforce Protections.
SB2677 (Related) 2016-03-15 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/2889/all-info
Text	https://www.congress.gov/114/bills/hr2889/BILLS-114hr2889ih.pdf