A bill to amend the Internal Revenue Code of 1986 to index certain assets for purposes of determining gain or loss.
Latest action · Nov 18, 2008 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 1119 under authority of the order of the Senate of 11/17/2008.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 22, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets.
Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.
Cosponsors
Members who signed on, in the order they did.
Actions 3
Everything that happened, newest first.
- Nov 18, 2008Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 1119 under authority of the order of the Senate of 11/17/2008.
- Sep 22, 2008Introduced in Senate
- Sep 22, 2008Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S9220 | Harry Reid D-NV | Sep 22, 2008 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 892 | Capital Gains Inflation Relief Act of 2007 | Related bill | Mar 15, 2007 |
| HR 1261 | Capital Gains Inflation Relief Act of 2007 | Related bill | Mar 1, 2007 |
| S 2592 | Economic Growth Act of 2008 | Related bill | Feb 5, 2008 |
| HR 5109 | Economic Growth Act of 2008 | Related bill | Jan 23, 2008 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to index certain assets for purposes of determining gain or loss.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 2
Each version as it was printed, newest first.
- Nov 18, 2008Placed on Calendar Senate
- Sep 22, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
