H.R.1989 - To amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.108th Congress (2003-2004)
|Sponsor:||Rep. Ryan, Paul [R-WI-1] (Introduced 05/06/2003)|
|Committees:||House - Ways and Means|
|Latest Action:||05/06/2003 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1989 — 108th Congress (2003-2004)All Bill Information (Except Text)
Amends the Internal Revenue Code to provide that, in the case of an electing individual, no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such capital gain dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.
Introduced in House (05/06/2003)
States that such deferral shall not apply to: (1) an individual with respect to whom a personal exemption is allowable to another person; and (2) an estate or trust.