A bill to amend the Internal Revenue Code of 1986 to discourage short-term investments by pension plans and welfare benefit funds by taxing capital gains from such investments.

Summary

Amends the Internal Revenue Code to impose a tax on certain capital gains of: (1) qualified trusts that are part of an employer stock bonus, pension, or profit-sharing plan; and (2) welfare benefit funds that are part of an employer plan through which benefits are provided to employees or their beneficiaries. Taxes the lesser of the capital gain net income or the capital gain net income with respect to assets held for five years or less. Determines the amount of tax liability by applying rates inversely proportional to the length of time the asset is held, with the maximum rate (28 percent) applicable to short-term gains (assets held for six months or less).

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 14 July 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.