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To amend the Internal Revenue Code of 1986 to create a safe harbor for certain perpetual trust funds.

USA117th CongressHR-9044| House 
| Updated: 9/29/2022
Lloyd Doggett

Lloyd Doggett

Democratic Representative

Texas

Cosponsors (13)
Sylvia R. Garcia (Democratic)Marc A. Veasey (Democratic)Van Taylor (Republican)Lance Gooden (Republican)Pete Sessions (Republican)Vicente Gonzalez (Democratic)Al Green (Democratic)Joaquin Castro (Democratic)Jodey C. Arrington (Republican)Henry Cuellar (Democratic)Dan Crenshaw (Republican)Lizzie Fletcher (Democratic)Veronica Escobar (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Sep 29, 2022
Introduced in House
Sep 29, 2022
Referred to the House Committee on Ways and Means.
  • September 29, 2022
    Introduced in House


  • September 29, 2022
    Referred to the House Committee on Ways and Means.

Taxation

Government trust fundsState and local financeState and local government operations

To amend the Internal Revenue Code of 1986 to create a safe harbor for certain perpetual trust funds.

USA117th CongressHR-9044| House 
| Updated: 9/29/2022
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 29, 2022
Introduced in House
Sep 29, 2022
Referred to the House Committee on Ways and Means.
  • September 29, 2022
    Introduced in House


  • September 29, 2022
    Referred to the House Committee on Ways and Means.
Lloyd Doggett

Lloyd Doggett

Democratic Representative

Texas

Cosponsors (13)
Sylvia R. Garcia (Democratic)Marc A. Veasey (Democratic)Van Taylor (Republican)Lance Gooden (Republican)Pete Sessions (Republican)Vicente Gonzalez (Democratic)Al Green (Democratic)Joaquin Castro (Democratic)Jodey C. Arrington (Republican)Henry Cuellar (Democratic)Dan Crenshaw (Republican)Lizzie Fletcher (Democratic)Veronica Escobar (Democratic)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Government trust fundsState and local financeState and local government operations