<billStatus>
 <version>
  3.0.0
 </version>
 <bill>
  <number>
   1459
  </number>
  <updateDate>
   2023-01-11T13:46:26Z
  </updateDate>
  <updateDateIncludingText>
   2023-01-11T13:46:26Z
  </updateDateIncludingText>
  <originChamber>
   House
  </originChamber>
  <type>
   HR
  </type>
  <introducedDate>
   2021-03-01
  </introducedDate>
  <congress>
   117
  </congress>
  <constitutionalAuthorityStatementText>
   &lt;pre&gt;[Congressional Record Volume 167, Number 38 (Monday, March 1, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Ms. JAYAPAL:H.R. 1459.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I of the United States Constitutionand its subsequent amendments, and further clarified andinterpreted by the Supreme Court of the United States.[Page H883]&lt;/pre&gt;
  </constitutionalAuthorityStatementText>
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     hswm00
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    <name>
     Ways and Means Committee
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    <chamber>
     House
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       Referred to
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      <date>
       2021-03-01T17:03:25Z
      </date>
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  </committees>
  <relatedBills>
   <item>
    <title>
     Ultra-Millionaire Tax Act of 2021
    </title>
    <congress>
     117
    </congress>
    <number>
     510
    </number>
    <type>
     S
    </type>
    <latestAction>
     <actionDate>
      2021-03-01
     </actionDate>
     <text>
      Read twice and referred to the Committee on Finance.
     </text>
    </latestAction>
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     <item>
      <type>
       Identical bill
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      <identifiedBy>
       CRS
      </identifiedBy>
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    <actionDate>
     2021-03-01
    </actionDate>
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     Referred to the House Committee on Ways and Means.
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     H11100
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     2021-03-01
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    <bioguideId>
     J000298
    </bioguideId>
    <fullName>
     Rep. Jayapal, Pramila [D-WA-7]
    </fullName>
    <firstName>
     Pramila
    </firstName>
    <lastName>
     Jayapal
    </lastName>
    <party>
     D
    </party>
    <state>
     WA
    </state>
    <district>
     7
    </district>
    <isByRequest>
     N
    </isByRequest>
   </item>
  </sponsors>
  <cosponsors>
   <item>
    <bioguideId>
     B001296
    </bioguideId>
    <fullName>
     Rep. Boyle, Brendan F. [D-PA-2]
    </fullName>
    <firstName>
     Brendan
    </firstName>
    <lastName>
     Boyle
    </lastName>
    <party>
     D
    </party>
    <state>
     PA
    </state>
    <middleName>
     F.
    </middleName>
    <district>
     2
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
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     True
    </isOriginalCosponsor>
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   <item>
    <bioguideId>
     N000147
    </bioguideId>
    <fullName>
     Del. Norton, Eleanor Holmes [D-DC-At Large]
    </fullName>
    <firstName>
     ELEANOR
    </firstName>
    <lastName>
     NORTON
    </lastName>
    <party>
     D
    </party>
    <state>
     DC
    </state>
    <middleName>
     HOLMES
    </middleName>
    <district>
     0
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     L000551
    </bioguideId>
    <fullName>
     Rep. Lee, Barbara [D-CA-13]
    </fullName>
    <firstName>
     BARBARA
    </firstName>
    <lastName>
     LEE
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <district>
     13
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     O000173
    </bioguideId>
    <fullName>
     Rep. Omar, Ilhan [D-MN-5]
    </fullName>
    <firstName>
     Ilhan
    </firstName>
    <lastName>
     Omar
    </lastName>
    <party>
     D
    </party>
    <state>
     MN
    </state>
    <district>
     5
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     O000172
    </bioguideId>
    <fullName>
     Rep. Ocasio-Cortez, Alexandria [D-NY-14]
    </fullName>
    <firstName>
     Alexandria
    </firstName>
    <lastName>
     Ocasio-Cortez
    </lastName>
    <party>
     D
    </party>
    <state>
     NY
    </state>
    <district>
     14
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     B001224
    </bioguideId>
    <fullName>
     Rep. Bush, Cori [D-MO-1]
    </fullName>
    <firstName>
     Cori
    </firstName>
    <lastName>
     Bush
    </lastName>
    <party>
     D
    </party>
    <state>
     MO
    </state>
    <district>
     1
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     T000472
    </bioguideId>
    <fullName>
     Rep. Takano, Mark [D-CA-41]
    </fullName>
    <firstName>
     Mark
    </firstName>
    <lastName>
     Takano
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <district>
     41
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     B001223
    </bioguideId>
    <fullName>
     Rep. Bowman, Jamaal [D-NY-16]
    </fullName>
    <firstName>
     Jamaal
    </firstName>
    <lastName>
     Bowman
    </lastName>
    <party>
     D
    </party>
    <state>
     NY
    </state>
    <district>
     16
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     S001145
    </bioguideId>
    <fullName>
     Rep. Schakowsky, Janice D. [D-IL-9]
    </fullName>
    <firstName>
     JANICE
    </firstName>
    <lastName>
     SCHAKOWSKY
    </lastName>
    <party>
     D
    </party>
    <state>
     IL
    </state>
    <middleName>
     D.
    </middleName>
    <district>
     9
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     W000822
    </bioguideId>
    <fullName>
     Rep. Watson Coleman, Bonnie [D-NJ-12]
    </fullName>
    <firstName>
     Bonnie
    </firstName>
    <lastName>
     Watson Coleman
    </lastName>
    <party>
     D
    </party>
    <state>
     NJ
    </state>
    <district>
     12
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     G000551
    </bioguideId>
    <fullName>
     Rep. Grijalva, Raúl M. [D-AZ-3]
    </fullName>
    <firstName>
     Raúl
    </firstName>
    <lastName>
     Grijalva
    </lastName>
    <party>
     D
    </party>
    <state>
     AZ
    </state>
    <middleName>
     M.
    </middleName>
    <district>
     3
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     J000306
    </bioguideId>
    <fullName>
     Rep. Jones, Mondaire [D-NY-17]
    </fullName>
    <firstName>
     Mondaire
    </firstName>
    <lastName>
     Jones
    </lastName>
    <party>
     D
    </party>
    <state>
     NY
    </state>
    <district>
     17
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     P000617
    </bioguideId>
    <fullName>
     Rep. Pressley, Ayanna [D-MA-7]
    </fullName>
    <firstName>
     Ayanna
    </firstName>
    <lastName>
     Pressley
    </lastName>
    <party>
     D
    </party>
    <state>
     MA
    </state>
    <district>
     7
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     M000312
    </bioguideId>
    <fullName>
     Rep. McGovern, James P. [D-MA-2]
    </fullName>
    <firstName>
     JAMES
    </firstName>
    <lastName>
     MCGOVERN
    </lastName>
    <party>
     D
    </party>
    <state>
     MA
    </state>
    <middleName>
     P.
    </middleName>
    <district>
     2
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     E000296
    </bioguideId>
    <fullName>
     Rep. Evans, Dwight [D-PA-3]
    </fullName>
    <firstName>
     Dwight
    </firstName>
    <lastName>
     Evans
    </lastName>
    <party>
     D
    </party>
    <state>
     PA
    </state>
    <district>
     3
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     K000389
    </bioguideId>
    <fullName>
     Rep. Khanna, Ro [D-CA-17]
    </fullName>
    <firstName>
     Ro
    </firstName>
    <lastName>
     Khanna
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <district>
     17
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     G000586
    </bioguideId>
    <fullName>
     Rep. Garcia, Jesus G. "Chuy" [D-IL-4]
    </fullName>
    <firstName>
     Jesus
    </firstName>
    <lastName>
     Garcia
    </lastName>
    <party>
     D
    </party>
    <state>
     IL
    </state>
    <middleName>
     G.
    </middleName>
    <district>
     4
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     C001080
    </bioguideId>
    <fullName>
     Rep. Chu, Judy [D-CA-27]
    </fullName>
    <firstName>
     Judy
    </firstName>
    <lastName>
     Chu
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <district>
     27
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     S000510
    </bioguideId>
    <fullName>
     Rep. Smith, Adam [D-WA-9]
    </fullName>
    <firstName>
     ADAM
    </firstName>
    <lastName>
     SMITH
    </lastName>
    <party>
     D
    </party>
    <state>
     WA
    </state>
    <district>
     9
    </district>
    <sponsorshipDate>
     2021-03-01
    </sponsorshipDate>
    <isOriginalCosponsor>
     True
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     T000481
    </bioguideId>
    <fullName>
     Rep. Tlaib, Rashida [D-MI-13]
    </fullName>
    <firstName>
     Rashida
    </firstName>
    <lastName>
     Tlaib
    </lastName>
    <party>
     D
    </party>
    <state>
     MI
    </state>
    <district>
     13
    </district>
    <sponsorshipDate>
     2021-03-03
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     W000826
    </bioguideId>
    <fullName>
     Rep. Wild, Susan [D-PA-7]
    </fullName>
    <firstName>
     Susan
    </firstName>
    <lastName>
     Wild
    </lastName>
    <party>
     D
    </party>
    <state>
     PA
    </state>
    <district>
     7
    </district>
    <sponsorshipDate>
     2021-03-03
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     D000191
    </bioguideId>
    <fullName>
     Rep. DeFazio, Peter A. [D-OR-4]
    </fullName>
    <firstName>
     PETER
    </firstName>
    <lastName>
     DEFAZIO
    </lastName>
    <party>
     D
    </party>
    <state>
     OR
    </state>
    <middleName>
     A.
    </middleName>
    <district>
     4
    </district>
    <sponsorshipDate>
     2021-03-03
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     W000800
    </bioguideId>
    <fullName>
     Rep. Welch, Peter [D-VT-At Large]
    </fullName>
    <firstName>
     Peter
    </firstName>
    <lastName>
     Welch
    </lastName>
    <party>
     D
    </party>
    <state>
     VT
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    <district>
     0
    </district>
    <sponsorshipDate>
     2021-03-03
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     C001068
    </bioguideId>
    <fullName>
     Rep. Cohen, Steve [D-TN-9]
    </fullName>
    <firstName>
     Steve
    </firstName>
    <lastName>
     Cohen
    </lastName>
    <party>
     D
    </party>
    <state>
     TN
    </state>
    <district>
     9
    </district>
    <sponsorshipDate>
     2021-03-08
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     L000579
    </bioguideId>
    <fullName>
     Rep. Lowenthal, Alan S. [D-CA-47]
    </fullName>
    <firstName>
     Alan
    </firstName>
    <lastName>
     Lowenthal
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <middleName>
     S.
    </middleName>
    <district>
     47
    </district>
    <sponsorshipDate>
     2021-03-08
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     M001188
    </bioguideId>
    <fullName>
     Rep. Meng, Grace [D-NY-6]
    </fullName>
    <firstName>
     Grace
    </firstName>
    <lastName>
     Meng
    </lastName>
    <party>
     D
    </party>
    <state>
     NY
    </state>
    <district>
     6
    </district>
    <sponsorshipDate>
     2021-03-08
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     D000623
    </bioguideId>
    <fullName>
     Rep. DeSaulnier, Mark [D-CA-11]
    </fullName>
    <firstName>
     Mark
    </firstName>
    <lastName>
     DeSaulnier
    </lastName>
    <party>
     D
    </party>
    <state>
     CA
    </state>
    <district>
     11
    </district>
    <sponsorshipDate>
     2021-05-13
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     K000396
    </bioguideId>
    <fullName>
     Rep. Kahele, Kaiali'i [D-HI-2]
    </fullName>
    <firstName>
     Kaiali'i
    </firstName>
    <lastName>
     Kahele
    </lastName>
    <party>
     D
    </party>
    <state>
     HI
    </state>
    <district>
     2
    </district>
    <sponsorshipDate>
     2021-06-08
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    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     L000592
    </bioguideId>
    <fullName>
     Rep. Levin, Andy [D-MI-9]
    </fullName>
    <firstName>
     Andy
    </firstName>
    <lastName>
     Levin
    </lastName>
    <party>
     D
    </party>
    <state>
     MI
    </state>
    <district>
     9
    </district>
    <sponsorshipDate>
     2021-06-22
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     B001292
    </bioguideId>
    <fullName>
     Rep. Beyer, Donald S., Jr. [D-VA-8]
    </fullName>
    <firstName>
     Donald
    </firstName>
    <lastName>
     Beyer
    </lastName>
    <party>
     D
    </party>
    <state>
     VA
    </state>
    <middleName>
     S.
    </middleName>
    <district>
     8
    </district>
    <sponsorshipDate>
     2021-07-16
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     C001090
    </bioguideId>
    <fullName>
     Rep. Cartwright, Matt [D-PA-8]
    </fullName>
    <firstName>
     Matt
    </firstName>
    <lastName>
     Cartwright
    </lastName>
    <party>
     D
    </party>
    <state>
     PA
    </state>
    <district>
     8
    </district>
    <sponsorshipDate>
     2021-09-17
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     P000034
    </bioguideId>
    <fullName>
     Rep. Pallone, Frank, Jr. [D-NJ-6]
    </fullName>
    <firstName>
     FRANK
    </firstName>
    <lastName>
     PALLONE
    </lastName>
    <party>
     D
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     &lt;p&gt;&lt;b&gt;Ultra-Millionaire Tax Act of 2021&lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill imposes a tax on the net value of all taxable assets of the taxpayer on the last day of any calendar year (wealth tax). The amount of such tax shall be equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion. There is no tax on the net value of taxable assets not in excess of $50 million. &lt;/p&gt; &lt;p&gt;The bill defines &lt;i&gt;net value of all taxable assets &lt;/i&gt;as the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated reduced by any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, and collectibles. &lt;/p&gt; &lt;p&gt;The Internal Revenue Service (IRS) must audit annually not less than 30% of taxpayers required to pay the tax imposed by this bill. &lt;/p&gt; &lt;p&gt;The bill provides funding to the IRS for FY2022-FY2032 for enforcement of the requirements of this bill, taxpayer services, and for business system modernization. &lt;/p&gt;
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2021-03-01
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
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2021-03-01
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Library of Congress
Introduced in House
IntroReferral
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2021-03-01
9
Library of Congress
Introduced in House
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2021-03-01T17:03:25Z
Referred to
House
Ways and Means Committee
hswm00
Standing
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Rep. Boyle, Brendan F. [D-PA-2]
Boyle
F.
D
2021-03-01
PA
N000147
0
ELEANOR
Del. Norton, Eleanor Holmes [D-DC-At Large]
NORTON
HOLMES
D
2021-03-01
DC
L000551
13
BARBARA
Rep. Lee, Barbara [D-CA-13]
LEE
D
2021-03-01
CA
O000173
5
Ilhan
Rep. Omar, Ilhan [D-MN-5]
Omar
D
2021-03-01
MN
O000172
14
Alexandria
Rep. Ocasio-Cortez, Alexandria [D-NY-14]
Ocasio-Cortez
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2021-03-01
NY
B001224
1
Cori
Rep. Bush, Cori [D-MO-1]
Bush
D
2021-03-01
MO
T000472
41
Mark
Rep. Takano, Mark [D-CA-41]
Takano
D
2021-03-01
CA
B001223
16
Jamaal
Rep. Bowman, Jamaal [D-NY-16]
Bowman
D
2021-03-01
NY
S001145
9
JANICE
Rep. Schakowsky, Janice D. [D-IL-9]
SCHAKOWSKY
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D
2021-03-01
IL
W000822
12
Bonnie
Rep. Watson Coleman, Bonnie [D-NJ-12]
Watson Coleman
D
2021-03-01
NJ
G000551
3
Raúl
Rep. Grijalva, Raúl M. [D-AZ-3]
Grijalva
M.
D
2021-03-01
AZ
J000306
17
Mondaire
Rep. Jones, Mondaire [D-NY-17]
Jones
D
2021-03-01
NY
P000617
7
Ayanna
Rep. Pressley, Ayanna [D-MA-7]
Pressley
D
2021-03-01
MA
M000312
2
JAMES
Rep. McGovern, James P. [D-MA-2]
MCGOVERN
P.
D
2021-03-01
MA
E000296
3
Dwight
Rep. Evans, Dwight [D-PA-3]
Evans
D
2021-03-01
PA
K000389
17
Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-03-01
CA
G000586
4
Jesus
Rep. Garcia, Jesus G. "Chuy" [D-IL-4]
Garcia
G.
D
2021-03-01
IL
C001080
27
Judy
Rep. Chu, Judy [D-CA-27]
Chu
D
2021-03-01
CA
S000510
9
ADAM
Rep. Smith, Adam [D-WA-9]
SMITH
D
2021-03-01
WA
T000481
13
Rashida
Rep. Tlaib, Rashida [D-MI-13]
Tlaib
D
2021-03-03
MI
W000826
7
Susan
Rep. Wild, Susan [D-PA-7]
Wild
D
2021-03-03
PA
D000191
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PETER
Rep. DeFazio, Peter A. [D-OR-4]
DEFAZIO
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D
2021-03-03
OR
W000800
0
Peter
Rep. Welch, Peter [D-VT-At Large]
Welch
D
2021-03-03
VT
C001068
9
Steve
Rep. Cohen, Steve [D-TN-9]
Cohen
D
2021-03-08
TN
L000579
47
Alan
Rep. Lowenthal, Alan S. [D-CA-47]
Lowenthal
S.
D
2021-03-08
CA
M001188
6
Grace
Rep. Meng, Grace [D-NY-6]
Meng
D
2021-03-08
NY
D000623
11
Mark
Rep. DeSaulnier, Mark [D-CA-11]
DeSaulnier
D
2021-05-13
CA
K000396
2
Kaiali'i
Rep. Kahele, Kaiali'i [D-HI-2]
Kahele
D
2021-06-08
HI
L000592
9
Andy
Rep. Levin, Andy [D-MI-9]
Levin
D
2021-06-22
MI
B001292
8
Donald
Rep. Beyer, Donald S., Jr. [D-VA-8]
Beyer
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D
2021-07-16
VA
C001090
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Matt
Rep. Cartwright, Matt [D-PA-8]
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2021-09-17
PA
P000034
6
FRANK
Rep. Pallone, Frank, Jr. [D-NJ-6]
PALLONE
D
2022-10-04
NJ
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-03-01
2021-03-01
Referred to the House Committee on Ways and Means.
House
Taxation
2021-03-01
Read twice and referred to the Committee on Finance.
CRS
Identical bill
Ultra-Millionaire Tax Act of 2021
S
J000298
7
Pramila
Rep. Jayapal, Pramila [D-WA-7]
N
Jayapal
D
WA
Accounting and auditing Department of the Treasury Executive agency funding and structure Internal Revenue Service (IRS) Property tax Tax administration and collection, taxpayers Transfer and inheritance taxes
2021-03-01
Introduced in House
 <p><b>Ultra-Millionaire Tax Act of 2021</b></p> <p>This bill imposes a tax on the net value of all taxable assets of the taxpayer on the last day of any calendar year (wealth tax). The amount of such tax shall be equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion. There is no tax on the net value of taxable assets not in excess of $50 million. </p> <p>The bill defines <i>net value of all taxable assets </i>as the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated reduced by any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, and collectibles. </p> <p>The Internal Revenue Service (IRS) must audit annually not less than 30% of taxpayers required to pay the tax imposed by this bill. </p> <p>The bill provides funding to the IRS for FY2022-FY2032 for enforcement of the requirements of this bill, taxpayer services, and for business system modernization. </p>
2021-05-18T13:32:35Z
00
2021-03-01T05:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr1459ih/xml/BILLS-117hr1459ih.xml
Ultra-Millionaire Tax Act of 2021
Ultra-Millionaire Tax Act of 2021
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.
Official Title as Introduced
IH
Introduced in House
Ultra-Millionaire Tax Act of 2021
Short Title(s) as Introduced
HR
2023-01-11T13:46:26Z
2023-01-11T13:46:26Z
3.0.0
2021-03-01
Read twice and referred to the Committee on Finance.
CRS
Identical bill
Ultra-Millionaire Tax Act of 2021
S
H11100
2021-03-01
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-03-01
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-01
9
Library of Congress
Introduced in House
IntroReferral
J000298
7
Pramila
Rep. Jayapal, Pramila [D-WA-7]
N
Jayapal
D
WA
B001296
2
Brendan
Rep. Boyle, Brendan F. [D-PA-2]
Boyle
F.
D
2021-03-01
PA
N000147
0
ELEANOR
Del. Norton, Eleanor Holmes [D-DC-At Large]
NORTON
HOLMES
D
2021-03-01
DC
L000551
13
BARBARA
Rep. Lee, Barbara [D-CA-13]
LEE
D
2021-03-01
CA
O000173
5
Ilhan
Rep. Omar, Ilhan [D-MN-5]
Omar
D
2021-03-01
MN
O000172
14
Alexandria
Rep. Ocasio-Cortez, Alexandria [D-NY-14]
Ocasio-Cortez
D
2021-03-01
NY
B001224
1
Cori
Rep. Bush, Cori [D-MO-1]
Bush
D
2021-03-01
MO
T000472
41
Mark
Rep. Takano, Mark [D-CA-41]
Takano
D
2021-03-01
CA
B001223
16
Jamaal
Rep. Bowman, Jamaal [D-NY-16]
Bowman
D
2021-03-01
NY
S001145
9
JANICE
Rep. Schakowsky, Janice D. [D-IL-9]
SCHAKOWSKY
D.
D
2021-03-01
IL
W000822
12
Bonnie
Rep. Watson Coleman, Bonnie [D-NJ-12]
Watson Coleman
D
2021-03-01
NJ
G000551
3
Raúl
Rep. Grijalva, Raúl M. [D-AZ-3]
Grijalva
M.
D
2021-03-01
AZ
J000306
17
Mondaire
Rep. Jones, Mondaire [D-NY-17]
Jones
D
2021-03-01
NY
P000617
7
Ayanna
Rep. Pressley, Ayanna [D-MA-7]
Pressley
D
2021-03-01
MA
M000312
2
JAMES
Rep. McGovern, James P. [D-MA-2]
MCGOVERN
P.
D
2021-03-01
MA
E000296
3
Dwight
Rep. Evans, Dwight [D-PA-3]
Evans
D
2021-03-01
PA
K000389
17
Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-03-01
CA
G000586
4
Jesus
Rep. Garcia, Jesus G. "Chuy" [D-IL-4]
Garcia
G.
D
2021-03-01
IL
C001080
27
Judy
Rep. Chu, Judy [D-CA-27]
Chu
D
2021-03-01
CA
S000510
9
ADAM
Rep. Smith, Adam [D-WA-9]
SMITH
D
2021-03-01
WA
T000481
13
Rashida
Rep. Tlaib, Rashida [D-MI-13]
Tlaib
D
2021-03-03
MI
W000826
7
Susan
Rep. Wild, Susan [D-PA-7]
Wild
D
2021-03-03
PA
D000191
4
PETER
Rep. DeFazio, Peter A. [D-OR-4]
DEFAZIO
A.
D
2021-03-03
OR
W000800
0
Peter
Rep. Welch, Peter [D-VT-At Large]
Welch
D
2021-03-03
VT
C001068
9
Steve
Rep. Cohen, Steve [D-TN-9]
Cohen
D
2021-03-08
TN
L000579
47
Alan
Rep. Lowenthal, Alan S. [D-CA-47]
Lowenthal
S.
D
2021-03-08
CA
M001188
6
Grace
Rep. Meng, Grace [D-NY-6]
Meng
D
2021-03-08
NY
D000623
11
Mark
Rep. DeSaulnier, Mark [D-CA-11]
DeSaulnier
D
2021-05-13
CA
K000396
2
Kaiali'i
Rep. Kahele, Kaiali'i [D-HI-2]
Kahele
D
2021-06-08
HI
L000592
9
Andy
Rep. Levin, Andy [D-MI-9]
Levin
D
2021-06-22
MI
B001292
8
Donald
Rep. Beyer, Donald S., Jr. [D-VA-8]
Beyer
S.
D
2021-07-16
VA
C001090
8
Matt
Rep. Cartwright, Matt [D-PA-8]
Cartwright
D
2021-09-17
PA
P000034
6
FRANK
Rep. Pallone, Frank, Jr. [D-NJ-6]
PALLONE
D
2022-10-04
NJ
Accounting and auditing Department of the Treasury Executive agency funding and structure Internal Revenue Service (IRS) Property tax Tax administration and collection, taxpayers Transfer and inheritance taxes
2021-03-01
Introduced in House
 <p><b>Ultra-Millionaire Tax Act of 2021</b></p> <p>This bill imposes a tax on the net value of all taxable assets of the taxpayer on the last day of any calendar year (wealth tax). The amount of such tax shall be equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion. There is no tax on the net value of taxable assets not in excess of $50 million. </p> <p>The bill defines <i>net value of all taxable assets </i>as the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated reduced by any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, and collectibles. </p> <p>The Internal Revenue Service (IRS) must audit annually not less than 30% of taxpayers required to pay the tax imposed by this bill. </p> <p>The bill provides funding to the IRS for FY2022-FY2032 for enforcement of the requirements of this bill, taxpayer services, and for business system modernization. </p>
2021-05-18T13:32:35Z
00
Ultra-Millionaire Tax Act of 2021
Ultra-Millionaire Tax Act of 2021
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.
Official Title as Introduced
IH
Introduced in House
Ultra-Millionaire Tax Act of 2021
Short Title(s) as Introduced
2021-03-01
Referred to the House Committee on Ways and Means.