US HB6444 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on July 19 2018 - 25% progression, died in committee
Action: 2018-07-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 19 2018 - 25% progression, died in committee
Action: 2018-07-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Capital Gains Inflation Relief Act This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years. The bill sets forth rules for applying the inflation adjustment to: short sales; regulated investment companies; real estate investment trusts; other pass-through entities, including partnerships, S corporations, and common trust funds; dispositions between related persons; and improvements to property or contributions of capital. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.
Title
Capital Gains Inflation Relief Act
Sponsors
Rep. Devin Nunes [R-CA] | Rep. Adrian Smith [R-NE] | Rep. Matt Gaetz [R-FL] | Rep. Mark Meadows [R-NC] |
Rep. David Schweikert [R-AZ] | Rep. Ralph Norman [R-SC] |
History
Date | Chamber | Action |
---|---|---|
2018-07-19 | House | Referred to the House Committee on Ways and Means. |
2018-07-19 | House | Introduced in House |
Same As/Similar To
SB2688 (Related) 2018-04-17 - Read twice and referred to the Committee on Finance.
HB2017 (Related) 2017-04-06 - Referred to the House Committee on Ways and Means.
HB2017 (Related) 2017-04-06 - Referred to the House Committee on Ways and Means.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/6444/all-info |
Text | https://www.congress.gov/115/bills/hr6444/BILLS-115hr6444ih.pdf |