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HR 1703 106th Congress House Taxation Capital gains tax Evidence (Law) Finance and Financial Sector Futures trading Income tax Interest Law Options (Contract) Personal income tax Put and call transactions Tax deductions Tax rates

To amend the Internal Revenue Code of 1986 to prevent the conversion of ordinary income or short-term capital gain into income eligible for the long-term capital gain rates, and for other purposes.

Introduced: May 5, 1999 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 5, 1999
Referred to the House Committee on Ways and Means.
May 5, 1999
Sponsor introductory remarks on measure. (CR H2642-2643, E862)
May 5, 1999
Introduced in House
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 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to treat a gain as a short-term capital gain to the extent such gain exceeds the net underlying long-term capital gain where the taxpayer has gain from a constructive ownership transaction with respect to any financial position and such gain otherwise would be treated as a long-term capital gain. Provides that, to the extent such gain is treated as a long-term capital gain after the application of the previous sentence, the determination of the applicable capital gain rate (or rates) shall be determined on the basis of the respective rate (or rates) that would have been applicable to the net underlying long-term capital gain rate. Sets forth definitions and exceptions.
What's happening now May 5, 1999

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 1703: To amend the Internal Revenue Code of 1986 to prevent the conversion of ordinary income or short-term capital gain into income eligible for the long-term capital gain rates, and for other purposes.. 106th Congress. Open America. https://openamerica.io/bill/106-HR-1703/
MLA
"H.R. 1703: To amend the Internal Revenue Code of 1986 to prevent the conversion of ordinary income or short-term capital gain into income eligible for the long-term capital gain rates, and for other purposes.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-1703/.
Bluebook (legal)
H.R. 1703, 106th Cong. (2026), https://openamerica.io/bill/106-HR-1703/.
Markdown link
[H.R. 1703: To amend the Internal Revenue Code of 1986 to prevent the conversion of ordinary income or short-term capital gain into income eligible for the long-term capital gain rates, and for other purposes.](https://openamerica.io/bill/106-HR-1703/)
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