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HR 7772 116th Congress House Taxation Employee benefits and pensions Financial services and investments Foreign and international corporations Securities Taxation of foreign income U.S. and foreign investments

Tax Parity for U.S. Mutual Funds Act of 2020

Introduced: July 24, 2020 Introduced by: Davis, Danny K. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 24, 2020
Referred to the Subcommittee on Select Revenue Measures.
Jul 24, 2020
Referred to the House Committee on Ways and Means.
Jul 24, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Tax Parity for U.S. Mutual Funds Act of 2020

This bill 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.

What's happening now July 24, 2020

Referred to the Subcommittee on Select Revenue Measures.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1 Republican 1