HR 9044
117th Congress
House
Taxation
Government trust funds
State and local finance
State and local government operations
To amend the Internal Revenue Code of 1986 to create a safe harbor for certain perpetual trust funds.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2022
Referred to the House Committee on Ways and Means.
Sep 29, 2022
Introduced in House
Plain-English summary
This bill creates a safe harbor for certain perpetual trust funds. It excludes from the definition of investment property under arbitrage provisions any fund created and controlled by a state and established pursuant to its constitution or state law if on a specified date, substantially all of the assets of the fund consist of nonfinancial assets and the assets are used only to support specifically designated essential governmental functions.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1