Retirement Inflation Protection Act of 2017
Latest action · Apr 6, 2017 Referred to the House Committee on Ways and Means.
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.
- IntroducedApr 6, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Retirement Inflation Protection Act of 2017
This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of individuals who: (1) have held the asset for more than 3 years, and (2) have attained the age of 59-1/2 as of the date of the sale or other disposition of the asset.
The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property or contributions of capital.
The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Apr 6, 2017 |
Actions 2
Everything that happened, newest first.
- Apr 6, 2017Introduced in House
- Apr 6, 2017Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 60, April 6, 2017, page H2791.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R45229 | Indexing Capital Gains Taxes for Inflation Archived | Report | Jul 24, 2018 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2688 | Capital Gains Inflation Relief Act of 2018 | Related bill | Apr 17, 2018 |
| HR 6246 | Retirement Inflation Protection Act of 2016 | Reintroduction of | Sep 28, 2016 |
| HR 6444 | Capital Gains Inflation Relief Act | Related bill | Jul 19, 2018 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss of eligible individuals.
- Short Titles as Introduced
- Retirement Inflation Protection Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Apr 6, 2017Introduced in House
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.
