H.R. 9060

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9060 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9060 To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 29, 2026 Mr. Hern of Oklahoma (for himself, Mr. Horsford, and Mr. Moran) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Precious Metals Parity Act''. SEC. 2. TREATMENT OF INCOME RECEIVED BY REGULATED INVESTMENT COMPANIES FROM PRECIOUS METALS. (a) In General.--Section 851(b) of the Internal Revenue Code of 1986 is amended-- (1) in paragraph (2)(A)-- (A) by striking ``or foreign currencies'' and inserting ``, foreign currencies, or precious metals'', and (B) by striking ``or currencies'' and inserting ``currencies, or precious metals'', and (2) by adding at the end the following new sentence: ``For purposes of paragraph (2), the term `precious metals' means any gold, silver, platinum, or palladium bullion described in section 408(m)(3)(B).''. (b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>