To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services.

Summary

Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 22 June 2007

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 22 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 June 2007 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 June 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 June 2007

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 22 June 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Stark, Fortney Pete [D-CA-13] · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. Lewis, John [D-GA-5] · D · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Pomeroy, Earl [D-ND-At Large] · D · Sponsor
• Rep. Jones, Stephanie Tubbs [D-OH-11] · D · Sponsor
• Rep. Larson, John B. [D-CT-1] · D · Sponsor
• Rep. Blumenauer, Earl [D-OR-3] · D · Sponsor
• Rep. Kind, Ron [D-WI-3] · D · Sponsor
• Rep. Pascrell, Bill, Jr. [D-NJ-9] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Sen. Welch, Peter [D-VT] · D · Cosponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• Rep. Sherman, Brad [D-CA-32] · D · Cosponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Cosponsor
• Rep. Conyers, John, Jr. [D-MI-13] · D · Cosponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Cosponsor
• Rep. Sarbanes, John P. [D-MD-3] · D · Cosponsor
• Rep. Abercrombie, Neil [D-HI-1] · D · Cosponsor
• Rep. Gutierrez, Luis V. [D-IL-4] · D · Cosponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Cosponsor
• Rep. Lee, Barbara [D-CA-12] · D · Cosponsor
• Rep. Napolitano, Grace F. [D-CA-32] · D · Cosponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Cosponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services.
• related to ← A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services.