Precious Metals Parity Act

This bill changes federal tax law for regulated investment companies, such as mutual funds. To keep their special tax treatment, these companies must earn most of their income from certain approved sources. The bill would add gains and income from precious metals to that list of approved sources, alongside stocks, securities, and foreign currencies. Precious metals are defined as gold, silver, platinum, or palladium bullion of the kind described in an existing tax code section. The change would apply to tax years beginning after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Kevin Hern Republican sponsor
• 2 cosponsors