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Precious Metals Parity Act

4/1/2025, 4:09 AM

Summary of Bill S 989

Bill 119 s 989, also known as the "Precious Metals Investment Act," aims to amend the Internal Revenue Code of 1986. The main purpose of this bill is to ensure that income received by a regulated investment company from precious metals is considered qualifying income for tax purposes.

Currently, regulated investment companies are subject to certain tax rules that determine what types of income can be classified as qualifying income. This bill seeks to include income from precious metals in this category, which would allow these companies to benefit from certain tax advantages.

By treating income from precious metals as qualifying income, regulated investment companies would be able to diversify their investment portfolios and potentially increase their returns. This could also incentivize more investment in precious metals, which could have positive effects on the overall economy. Overall, Bill 119 s 989 aims to provide more flexibility and opportunities for regulated investment companies while also potentially boosting the precious metals market. It will be interesting to see how this bill progresses through Congress and what impact it may have on the investment landscape.

Current Status of Bill S 989

Bill S 989 is currently in the status of Bill Introduced since March 12, 2025. Bill S 989 was introduced during Congress 119 and was introduced to the Senate on March 12, 2025.  Bill S 989's most recent activity was Read twice and referred to the Committee on Finance. as of March 12, 2025

Bipartisan Support of Bill S 989

Total Number of Sponsors
2
Democrat Sponsors
2
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
0
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 989

Primary Policy Focus

Alternate Title(s) of Bill S 989

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.
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.

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