A bill to amend the Internal Revenue Code of 1986 to prevent high net worth individuals from receiving tax windfalls for entering government service.
USA115th CongressS-13| Senate
| Updated: 1/3/2017
Sheldon Whitehouse
Democratic Senator
Rhode Island
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
No Windfalls for Government Service Act This bill amends the Internal Revenue Code to establish a $1 million lifetime limitation on the nonrecognition of a taxpayer's gains from the sale of property pursuant to a certificate of divesture to comply with conflict-of-interest requirements for certain federal government positions.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Federal officialsGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionIncome tax exclusion
A bill to amend the Internal Revenue Code of 1986 to prevent high net worth individuals from receiving tax windfalls for entering government service.
USA115th CongressS-13| Senate
| Updated: 1/3/2017
No Windfalls for Government Service Act This bill amends the Internal Revenue Code to establish a $1 million lifetime limitation on the nonrecognition of a taxpayer's gains from the sale of property pursuant to a certificate of divesture to comply with conflict-of-interest requirements for certain federal government positions.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Sheldon Whitehouse
Democratic Senator
Rhode Island
Finance Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Federal officialsGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionIncome tax exclusion