HR 2834
110th Congress
House
Taxation
Finance and Financial Sector
Income tax
Investment advisers
Investment banking
Partnerships
Tax rates
To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services.
Introduced: June 22, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2007
Referred to the House Committee on Ways and Means.
Jun 22, 2007
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1