Capital Gains Inflation Relief Act of 2007
Latest action · Mar 15, 2007 Read twice and referred to the Committee on Finance.
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.
- IntroducedMar 15, 2007
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Capital Gains Inflation Relief Act of 2007 - 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.
- Mar 15, 2007Introduced in Senate
- Mar 15, 2007Read twice and referred to the Committee on Finance.
- Mar 15, 2007Sponsor introductory remarks on measure. (CR S3203-3204)
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1261 | Capital Gains Inflation Relief Act of 2007 | Identical bill | Mar 1, 2007 |
| S 2592 | Economic Growth Act of 2008 | Related bill | Feb 5, 2008 |
| S 3535 | A bill to amend the Internal Revenue Code of 1986 to index certain assets for purposes of determining gain or loss. | Related bill | Nov 18, 2008 |
| HR 5109 | Economic Growth Act of 2008 | Related bill | Jan 23, 2008 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 15, 2007Introduced 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.
