HR 7772 · 116th Congress · Taxation
Tax Parity for U.S. Mutual Funds Act of 2020
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Select Revenue Measures.(2020-07-24)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (4)
2 Democrats2 Republicans