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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Retirement Inflation Protection Act of 2020

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss of eligible individuals.

Actions Overview (1)

Date Actions Overview
10/13/2020Introduced in House

All Actions (2)

Date All Actions
10/13/2020Referred to the House Committee on Ways and Means.
Action By: House of Representatives
10/13/2020Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means10/13/2020 Referred to

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Subjects (1)

Latest Summary (1)

There is one summary for H.R.8584. View summaries

Shown Here:
Introduced in House (10/13/2020)

Retirement Inflation Protection Act of 2020

This bill allows the adjusted basis of certain assets, including C corporation common stock and tangible property used in a trade or business, to be adjusted for inflation solely for the purpose of determining the gain or loss of individuals who (1) have held such assets for more than 3 years, and (2) have attained the age of 59 1/2 as of the date of the sale or other disposition of the assets. The bill uses the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for purposes of making the inflation adjustment.

The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property.

The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing an inflation adjustment.