Protect Future Dividends Act

This bill would change federal tax law so that payments individuals receive from a state sovereign wealth fund are not counted as income for federal income tax purposes. It defines such a fund as a permanent fund set up and kept by a state only for the benefit of its residents, funded by state revenue set aside under state law, with its principal invested as state law directs. The fund must make regular payments to people based mainly on living in the state, not in exchange for anything. The change would apply to payments received after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Nicholas J. Begich III Republican sponsor
• 0 cosponsors