II
119THCONGRESS
1
STSESSION 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
MARCH12, 2025
Ms. C
ORTEZMASTO(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 in-
come.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Precious Metals Parity 4
Act’’. 5
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•S 989 IS
SEC. 2. TREATMENT OF INCOME RECEIVED BY REGULATED 1
INVESTMENT COMPANIES FROM PRECIOUS 2
METALS. 3
(a) I
NGENERAL.—Section 851(b)(2)(A) of the Inter-4
nal Revenue Code of 1986 is amended— 5
(1) by striking ‘‘or foreign currencies’’ and in-6
serting ‘‘, foreign currencies, or precious metals,’’, 7
and 8
(2) by striking ‘‘or currencies’’ and inserting 9
‘‘currencies, or precious metals’’. 10
(b) E
FFECTIVEDATE.—The amendments made by 11
this section shall apply to taxable years beginning after 12
the date of the enactment of this Act. 13
Æ
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