H.R. 2834 · 110th Congress
To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment…
Full title
To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LevinSponsor26 cosponsors · 26 D
D
Blumenauer
BF
D
Frank
SJ
D
Jones
RK
D
Kind
JL
D
Lewis
JL
D
Larson
JM
D
McDermott
RN
D
Neal
BP
D
Pascrell
EP
D
Pomeroy
CR
D
Rangel
PS
D
Stark
BF
D
Filner
PW
D
Welch
BS
D
Sherman
JC
D
Conyers
PD
D
DeFazio
EN
D
Norton
NA
D
Abercrombie
LG
D
Gutiérrez
JS
D
Sarbanes
DK
D
Kucinich
BL
D
Lee
GN
D
Napolitano
LS
D
Slaughter
LS
D
Sánchez12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest.
What it does: CRS summary · Introduced in House · Jun 22, 2007
Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services.
Latest action (Jun 22, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 22, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.