US HB7772 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on July 24 2020 - 25% progression, died in committee
Action: 2020-07-24 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 24 2020 - 25% progression, died in committee
Action: 2020-07-24 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes international regulated investment companies (IRICs) and specifies rules for the taxation of such companies. An IRIC is a regulated investment company (i.e., a mutual fund) that has all of its outstanding stock held by foreign shareholders, including nonresident alien individuals (and their foreign estates) and qualified foreign pension funds, and meets other specified requirements.
Title
Tax Parity for U.S. Mutual Funds Act of 2020
Sponsors
| Rep. Danny Davis [D-IL] | Rep. Kenny Marchant [R-TX] | Rep. Thomas Suozzi [D-NY] | Rep. Ron Estes [R-KS] |
| Rep. Bill Pascrell [D-NJ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-24 | House | Referred to the Subcommittee on Select Revenue Measures. |
| 2020-07-24 | House | Referred to the House Committee on Ways and Means. |
| 2020-07-24 | House | Introduced in House |
Subjects
Employee benefits and pensions
Financial services and investments
Foreign and international corporations
Securities
Taxation
Taxation of foreign income
U.S. and foreign investments
Financial services and investments
Foreign and international corporations
Securities
Taxation
Taxation of foreign income
U.S. and foreign investments
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/7772/all-info |
| Text | https://www.congress.gov/116/bills/hr7772/BILLS-116hr7772ih.pdf |
