HR 9044 United States House · 117th Congress

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

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Sep 2022

Committee Review

Floor Vote

President

Introduced Sep 29, 2022 Last action Sep 29, 2022

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Sep 29, 2022

Committee

Referred to the House Committee on Ways and Means.

lower

Sep 29, 2022

Introduced

Introduced in House

lower

1 primary · 13 co-sponsors

Sponsors

Role

Legislator

Party

State

District