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S 5233 118th Congress Senate

No Capital Gains Allowance for American Adversaries Act

Official title: A bill to amend the Internal Revenue Code of 1986 to treat certain gains and dividends derived from counties of concern as ordinary income.

Introduced: September 25, 2024 Introduced by: Ricketts, Pete Republican · Nebraska See on congress.gov
Taxation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 25, 2024
Read twice and referred to the Committee on Finance.
Sep 25, 2024
Introduced in Senate
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 Latest action September 25, 2024

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

No Capital Gains Allowance for American Adversaries Act 

This bill treats gains and dividends derived from transactions involving countries of concern as ordinary income. The bill defines countries of concern to include China (including Hong Kong and Macao and excluding Taiwan), Russia, Belarus, Iran, and North Korea. 

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 5233: No Capital Gains Allowance for American Adversaries Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-5233/
MLA
"S. 5233: No Capital Gains Allowance for American Adversaries Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-5233/.
Bluebook (legal)
S. 5233, 118th Cong. (2026), https://openamerica.io/bill/118-S-5233/.
Markdown link
[S. 5233: No Capital Gains Allowance for American Adversaries Act](https://openamerica.io/bill/118-S-5233/)
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