Summary: H.R.4912 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.4912. Bill summaries are authored by CRS.

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Introduced in House (12/19/2007)

Amends the Internal Revenue Code to set forth rules for the treatment of income, loss, and distributions relating to a prepaid derivative contract. Defines "prepaid derivative contract" as any prepaid contract with a term longer than one year from the date of issue which is a derivative financial instrument with respect to any security, commodity, or financial index.