Precious Metals Parity Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 989 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 989 To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 12, 2025 Ms. Cortez Masto (for herself, Mr. Risch, and Ms. Lummis) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Precious Metals Parity Act''. SEC. 2. TREATMENT OF INCOME RECEIVED BY REGULATED INVESTMENT COMPANIES FROM PRECIOUS METALS. (a) In General.--Section 851(b)(2)(A) of the Internal Rev…