US HB2017 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 6 2017 - 25% progression, died in committee
Action: 2017-04-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 6 2017 - 25% progression, died in committee
Action: 2017-04-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Retirement Inflation Protection Act of 2017 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 individuals who: (1) have held the asset for more than 3 years, and (2) have attained the age of 59-1/2 as of the date of the sale or other disposition of the asset. The bill sets forth rules for applying the inflation adjustment to short sales, 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
Retirement Inflation Protection Act of 2017
Sponsors
Rep. Tom Emmer [R-MN] |
History
Date | Chamber | Action |
---|---|---|
2017-04-06 | House | Referred to the House Committee on Ways and Means. |
2017-04-06 | House | Introduced in House |
Same As/Similar To
SB2688 (Related) 2018-04-17 - Read twice and referred to the Committee on Finance.
HB6444 (Related) 2018-07-19 - Referred to the House Committee on Ways and Means.
HB6444 (Related) 2018-07-19 - Referred to the House Committee on Ways and Means.
Subjects
Business investment and capital
Capital gains tax
Inflation and prices
Securities
Small business
Taxation
Capital gains tax
Inflation and prices
Securities
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/2017/all-info |
Text | https://www.congress.gov/115/bills/hr2017/BILLS-115hr2017ih.pdf |