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Tax Parity for U.S. Mutual Funds Act of 2020

USA116th CongressHR-7772| House 
| Updated: 7/24/2020
Danny K. Davis

Danny K. Davis

Democratic Representative

Illinois

Cosponsors (4)
Thomas R. Suozzi (Democratic)Kenny Marchant (Republican)Ron Estes (Republican)Bill Pascrell (Democratic)

Ways and Means Committee, Tax Subcommittee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Tax Parity for U.S. Mutual Funds Act of 2020 This bill establishes international regulated investment companies (IRICs) and specifies rules for the taxation of such companies. An IRIC is a regulated investment company (i.e., a mutual fund) that has all of its outstanding stock held by foreign shareholders, including nonresident alien individuals (and their foreign estates) and qualified foreign pension funds, and meets other specified requirements.
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Timeline
Jul 24, 2020
Introduced in House
Jul 24, 2020
Referred to the Subcommittee on Select Revenue Measures.
Jul 24, 2020
Referred to the House Committee on Ways and Means.
  • July 24, 2020
    Introduced in House
  • July 24, 2020
    Referred to the Subcommittee on Select Revenue Measures.
  • July 24, 2020
    Referred to the House Committee on Ways and Means.

Taxation

Employee benefits and pensionsFinancial services and investmentsForeign and international corporationsSecuritiesTaxation of foreign incomeU.S. and foreign investments

Tax Parity for U.S. Mutual Funds Act of 2020

USA116th CongressHR-7772| House 
| Updated: 7/24/2020
Tax Parity for U.S. Mutual Funds Act of 2020 This bill establishes international regulated investment companies (IRICs) and specifies rules for the taxation of such companies. An IRIC is a regulated investment company (i.e., a mutual fund) that has all of its outstanding stock held by foreign shareholders, including nonresident alien individuals (and their foreign estates) and qualified foreign pension funds, and meets other specified requirements.
View Full Text

Suggested Questions

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

Timeline
Jul 24, 2020
Introduced in House
Jul 24, 2020
Referred to the Subcommittee on Select Revenue Measures.
Jul 24, 2020
Referred to the House Committee on Ways and Means.
  • July 24, 2020
    Introduced in House
  • July 24, 2020
    Referred to the Subcommittee on Select Revenue Measures.
  • July 24, 2020
    Referred to the House Committee on Ways and Means.
Danny K. Davis

Danny K. Davis

Democratic Representative

Illinois

Cosponsors (4)
Thomas R. Suozzi (Democratic)Kenny Marchant (Republican)Ron Estes (Republican)Bill Pascrell (Democratic)

Ways and Means Committee, Tax Subcommittee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Employee benefits and pensionsFinancial services and investmentsForeign and international corporationsSecuritiesTaxation of foreign incomeU.S. and foreign investments