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HR10039Referred to Committee

To amend the Internal Revenue Code of 1986 to exempt individual account plans from certain prohibited transaction rules.

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-08-03
Introduced
0
Cosponsors
HR
ⓘ
Type

Sponsor

Claudia Tenney
Claudia Tenney
Republican · NY · Representative
Votes with party: 98.7% (637 recorded votes)

Full profile: /officials/T000478

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Ways and Means.

2026-08-03

Source: Congress.gov

Committee Activity

Currently in

  • House Committee on Ways and MeansReferred To · 2026-08-03

Plain-English Summary

The proposal would change tax rules to allow people with individual retirement accounts and similar savings plans to make certain types of investments that are currently prohibited, such as investing in businesses owned by family members or companies they control. This would give account holders more flexibility in how they invest their retirement savings, though it could potentially increase risks since these investments might not be as regulated or transparent as traditional options. The change would primarily affect individuals saving for retirement through these types of accounts.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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