S 2876
111th Congress
Senate
Taxation
Aquatic ecology
Capital gains tax
Income tax rates
Lakes and rivers
Land transfers
Land use and conservation
U.S. and foreign investments
Wetlands
Wildlife conservation and habitat protection
Wetlands Conservation Investment Act of 2009
Introduced: December 11, 2009
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 11, 2009
Read twice and referred to the Committee on Finance.
Dec 11, 2009
Introduced in Senate
Plain-English summary
Wetlands Conservation Investment Act of 2009 - Amends the Internal Revenue Code to treat gain or loss from the sale or exchange of a mitigation bank credit by the sponsor of the mitigation bank (i.e., the wetland, stream, or other aquatic resource area that has been restored, established, enhanced, or preserved for the purpose of providing compensation for unavoidable impacts to aquatic resources) who earned such credit as the sale or exchange of a capital asset held for more than one year (thus allowing preferential tax treatment of such gain or loss). Exempts from tax withholding requirements any gain from sales of mitigation bank credits.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1