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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9060 Introduced in House (IH)]
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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.
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