US HB3708 | 2017-2018 | 115th Congress
Status
Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: Introduced on September 7 2017 - 25% progression, died in committee
Action: 2017-09-07 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 7 2017 - 25% progression, died in committee
Action: 2017-09-07 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchanges of virtual currency, and for other purposes. This bill amends the Internal Revenue Code (IRC) to exclude from gross income up to $600 (adjusted for inflation after 2018) in gain from the sale or exchange of virtual currency for other than cash or cash equivalents. "Virtual currency" is a digital representation of value that is used as a medium of exchange and is not otherwise currency under provisions of the IRC related to foreign currency transactions.
Title
To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchanges of virtual currency, and for other purposes.
Sponsors
| Rep. David Schweikert [R-AZ] | Rep. Jared Polis [D-CO] | Rep. Mark Meadows [R-NC] | Sen. Ted Budd [R-NC] |
| Rep. Tom Emmer [R-MN] | Rep. Thomas MacArthur [R-NJ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-09-07 | House | Referred to the House Committee on Ways and Means. |
| 2017-09-07 | House | Introduced in House |
Same As/Similar To
HCR97 (Related) 2017-12-18 - Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB7356 (Related) 2018-12-20 - Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB7356 (Related) 2018-12-20 - Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/house-bill/3708/all-info |
| Text | https://www.congress.gov/115/bills/hr3708/BILLS-115hr3708ih.pdf |
