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S. 2078: A bill to amend the Internal Revenue Code of 1986 to treat Alaska Permanent Fund dividends as earned income for purposes of the kiddie tax.

The text of the bill below is as of Jul 10, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 2078

IN THE SENATE OF THE UNITED STATES

July 10, 2019

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 treat Alaska Permanent Fund dividends as earned income for purposes of the kiddie tax.

1.

Certain scholarships treated as earned income for kiddie tax

(a)

In general

Section 1(g)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

(D)

Treatment of Alaska permanent fund dividends

For purposes of this subsection, any Alaska Permanent Fund dividend which is received by the child referred to in paragraph (1) and included in the gross income of such child shall be treated as earned income of such child.

.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2017.