H.R. 1935 (111th): To amend the Internal Revenue Code of 1986 to provide for the treatment of partnership interests held by partners providing services.

Introduced:
Apr 02, 2009 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Sander Levin
Representative for Michigan's 12th congressional district
Party
Democrat
Text
Read Text »
Last Updated
Apr 02, 2009
Length
24 pages
Related Bills
H.R. 4213 (Related)
Unemployment Compensation Extension Act of 2010

Signed by the President
Jul 22, 2010

 
Status

This bill was introduced on April 2, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 02, 2009
Referred to Committee Apr 02, 2009
 
Summary

No summaries available.

Cosponsors
none
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/2/2009--Introduced.
Amends the Internal Revenue Code to:
(1) to set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services;
(2) treat as ordinary income or loss net income or loss from an investment services partnership interest;
(3) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment;
(4) apply the rule treating gain from sales between related persons as ordinary income to certain partnership interests; and
(5) exempt income from investment services partnership interests from treatment as qualifying income of publicly traded partnerships.
Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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