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H.R. 2889 · 114th Congress

Carried Interest Fairness Act of 2015

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

SLD LevinSponsor
58 cosponsors · 58 D
KED Ellison JMD McDermott CRD Rangel CVD Van Hollen BPD Pascrell ECD Cummings END Norton DBD Beyer RDD DeLauro AGD Grayson JGD Garamendi ALD Lowenthal MPD Pocan JSD Schakowsky JSD Sarbanes JCD Conyers PDD DeFazio LGD Gutiérrez BHD Higgins NVD Velázquez BWD Watson Coleman TDD Duckworth AKD Kirkpatrick GND Napolitano PTD Tonko MTD Takano MDD DeSaulnier AHD Hastings MKD Kaptur FPD Pallone LRD Roybal-Allard BSD Scott JSD Serrano LSD Slaughter EBD Blumenauer PWD Welch JCD Courtney HJD Jeffries GMD Moore SMD Maloney JND Nadler TRD Ryan BLD Lee RGD Grijalva RGD Gallego BMD McCollum DCD Cicilline JLD Langevin FWD Wilson AAD Adams CBD Brown SCD Cohen TGD Gabbard SJD Jackson Lee ZLD Lofgren JMD McGovern DPD Price RBD Brady

4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's…

What it does: CRS summary · Introduced in House · Jun 25, 2015

Carried Interest Fairness Act of 2015

Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, (3) exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, (4) exempt certain family partnerships from the application of this Act; (5) increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and (6) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes.

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 about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) 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: Carried Interest Fairness Act of 2015

Latest action (Jun 25, 2015): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jun 25, 2015

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.