HR 4912 · 110th Congress · Taxation

To amend the Internal Revenue Code of 1986 with respect to the treatment of prepaid derivative contracts.

Introduced 2007-12-19· Sponsored by Rep. Neal, Richard E. [D-MA-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2007-12-19)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to set forth rules for the treatment of income, loss, and distributions relating to a prepaid derivative contract. Defines "prepaid derivative contract" as any prepaid contract with a term longer than one year from the date of issue which is a derivative financial instrument with respect to any security, commodity, or financial index.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Schwartz, Allyson Y. [D-PA-13]PA