H.R. 7772 · 116th Congress
Tax Parity for U.S. Mutual Funds Act of 2020
- Stage
- In committee
- Sponsor
- Danny Davis
- Introduced
- 2020-07-24
- Latest action
- 2020-07-24 · Introduced in House
Summary
Tax Parity for U.S. Mutual Funds Act of 2020
This bill establishes international regulated investment companies (IRICs) and specifies rules for the taxation of such companies. An IRIC is a regulated investment company (i.e., a mutual fund) that has all of its outstanding stock held by foreign shareholders, including nonresident alien individuals (and their foreign estates) and qualified foreign pension funds, and meets other specified requirements.