<billStatus>
 <version>
  3.0.0
 </version>
 <bill>
  <number>
   2286
  </number>
  <updateDate>
   2023-01-11T13:47:59Z
  </updateDate>
  <updateDateIncludingText>
   2023-01-11T13:47:59Z
  </updateDateIncludingText>
  <originChamber>
   House
  </originChamber>
  <type>
   HR
  </type>
  <introducedDate>
   2021-03-29
  </introducedDate>
  <congress>
   117
  </congress>
  <constitutionalAuthorityStatementText>
   &lt;pre&gt;[Congressional Record Volume 167, Number 58 (Monday, March 29, 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 Mr. PASCRELL:H.R. 2286.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the United StatesConstitution.[Page H1699]&lt;/pre&gt;
  </constitutionalAuthorityStatementText>
  <committees>
   <item>
    <systemCode>
     hswm00
    </systemCode>
    <name>
     Ways and Means Committee
    </name>
    <chamber>
     House
    </chamber>
    <type>
     Standing
    </type>
    <activities>
     <item>
      <name>
       Referred to
      </name>
      <date>
       2021-03-29T14:31:45Z
      </date>
     </item>
    </activities>
   </item>
  </committees>
  <actions>
   <item>
    <actionDate>
     2021-03-29
    </actionDate>
    <text>
     Referred to the House Committee on Ways and Means.
    </text>
    <type>
     IntroReferral
    </type>
    <actionCode>
     H11100
    </actionCode>
    <sourceSystem>
     <code>
      2
     </code>
     <name>
      House floor actions
     </name>
    </sourceSystem>
    <committees>
     <item>
      <systemCode>
       hswm00
      </systemCode>
      <name>
       Ways and Means Committee
      </name>
     </item>
    </committees>
   </item>
   <item>
    <actionDate>
     2021-03-29
    </actionDate>
    <text>
     Introduced in House
    </text>
    <type>
     IntroReferral
    </type>
    <actionCode>
     Intro-H
    </actionCode>
    <sourceSystem>
     <code>
      9
     </code>
     <name>
      Library of Congress
     </name>
    </sourceSystem>
   </item>
   <item>
    <actionDate>
     2021-03-29
    </actionDate>
    <text>
     Introduced in House
    </text>
    <type>
     IntroReferral
    </type>
    <actionCode>
     1000
    </actionCode>
    <sourceSystem>
     <code>
      9
     </code>
     <name>
      Library of Congress
     </name>
    </sourceSystem>
   </item>
  </actions>
  <sponsors>
   <item>
    <bioguideId>
     P000096
    </bioguideId>
    <fullName>
     Rep. Pascrell, Bill, Jr. [D-NJ-9]
    </fullName>
    <firstName>
     WILLIAM
    </firstName>
    <lastName>
     PASCRELL
    </lastName>
    <party>
     D
    </party>
    <state>
     NJ
    </state>
    <middleName>
     J.
    </middleName>
    <district>
     9
    </district>
    <isByRequest>
     N
    </isByRequest>
   </item>
  </sponsors>
  <cosponsors>
   <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>
     2021-04-15
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
   <item>
    <bioguideId>
     T000483
    </bioguideId>
    <fullName>
     Rep. Trone, David J. [D-MD-6]
    </fullName>
    <firstName>
     David
    </firstName>
    <lastName>
     Trone
    </lastName>
    <party>
     D
    </party>
    <state>
     MD
    </state>
    <middleName>
     J.
    </middleName>
    <district>
     6
    </district>
    <sponsorshipDate>
     2021-05-04
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </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>
     2021-07-21
    </sponsorshipDate>
    <isOriginalCosponsor>
     False
    </isOriginalCosponsor>
   </item>
  </cosponsors>
  <policyArea>
   <name>
    Taxation
   </name>
  </policyArea>
  <subjects>
   <legislativeSubjects>
    <item>
     <name>
      Capital gains tax
     </name>
    </item>
    <item>
     <name>
      Income tax exclusion
     </name>
    </item>
    <item>
     <name>
      Transfer and inheritance taxes
     </name>
    </item>
   </legislativeSubjects>
   <policyArea>
    <name>
     Taxation
    </name>
   </policyArea>
  </subjects>
  <summaries>
   <summary>
    <versionCode>
     00
    </versionCode>
    <actionDate>
     2021-03-29
    </actionDate>
    <actionDesc>
     Introduced in House
    </actionDesc>
    <updateDate>
     2021-11-17T18:59:04Z
    </updateDate>
    <text>
     &lt;p&gt;This bill treats property transferred by gift or upon the death of a decedent as sold at its fair market value (thus requiring recognition of gain realized over the property's basis). Under current law there is a step up in basis of such property which allows for an exclusion of gain for gifts and estate property. The bill allows an exception to this fair market value rule for U.S. citizen spouses, charities, and certain tangible property. &lt;/p&gt; &lt;p&gt;The bill allows a taxpayer an exclusion from income for up to $1 million (indexed for inflation) in gain resulting from transfers at death. &lt;/p&gt; &lt;p&gt;The bill imposes certain information reporting requirements for gifts or bequests subject to this bill's fair market value rule. It also allows taxpayers to pay any tax due in two or more, but not more than seven, equal installments.&lt;/p&gt;
    </text>
   </summary>
  </summaries>
  <title>
   To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
  </title>
  <titles>
   <item>
    <titleType>
     Display Title
    </titleType>
    <title>
     To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
    </title>
   </item>
   <item>
    <titleType>
     Official Title as Introduced
    </titleType>
    <title>
     To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
    </title>
    <billTextVersionName>
     Introduced in House
    </billTextVersionName>
    <billTextVersionCode>
     IH
    </billTextVersionCode>
   </item>
  </titles>
  <textVersions>
   <item>
    <type>
     Introduced in House
    </type>
    <date>
     2021-03-29T04:00:00Z
    </date>
    <formats>
     <item>
      <url>
       https://www.govinfo.gov/content/pkg/BILLS-117hr2286ih/xml/BILLS-117hr2286ih.xml
      </url>
     </item>
    </formats>
   </item>
  </textVersions>
  <latestAction>
   <actionDate>
    2021-03-29
   </actionDate>
   <text>
    Referred to the House Committee on Ways and Means.
   </text>
  </latestAction>
 </bill>
 <dublinCore xmlns:dc="http://purl.org/dc/elements/1.1/">
  <dc:format>
   text/xml
  </dc:format>
  <dc:language>
   EN
  </dc:language>
  <dc:rights>
   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.
  </dc:rights>
  <dc:contributor>
   Congressional Research Service, Library of Congress
  </dc:contributor>
  <dc:description>
   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.
  </dc:description>
 </dublinCore>
</billStatus>

H11100
2021-03-29
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-03-29
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-29
9
Library of Congress
Introduced in House
IntroReferral
2021-03-29T14:31:45Z
Referred to
House
Ways and Means Committee
hswm00
Standing
K000389
17
Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-04-15
CA
T000483
6
David
Rep. Trone, David J. [D-MD-6]
Trone
J.
D
2021-05-04
MD
B001223
16
Jamaal
Rep. Bowman, Jamaal [D-NY-16]
Bowman
D
2021-07-21
NY
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.
2021-03-29
2021-03-29
Referred to the House Committee on Ways and Means.
House
Taxation
P000096
9
WILLIAM
Rep. Pascrell, Bill, Jr. [D-NJ-9]
N
PASCRELL
J.
D
NJ
Capital gains tax Income tax exclusion Transfer and inheritance taxes
2021-03-29
Introduced in House
 <p>This bill treats property transferred by gift or upon the death of a decedent as sold at its fair market value (thus requiring recognition of gain realized over the property's basis). Under current law there is a step up in basis of such property which allows for an exclusion of gain for gifts and estate property. The bill allows an exception to this fair market value rule for U.S. citizen spouses, charities, and certain tangible property. </p> <p>The bill allows a taxpayer an exclusion from income for up to $1 million (indexed for inflation) in gain resulting from transfers at death. </p> <p>The bill imposes certain information reporting requirements for gifts or bequests subject to this bill's fair market value rule. It also allows taxpayers to pay any tax due in two or more, but not more than seven, equal installments.</p>
2021-11-17T18:59:04Z
00
2021-03-29T04:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr2286ih/xml/BILLS-117hr2286ih.xml
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
Official Title as Introduced
HR
2023-01-11T13:47:59Z
2023-01-11T13:47:59Z
3.0.0
H11100
2021-03-29
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-03-29
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-29
9
Library of Congress
Introduced in House
IntroReferral
P000096
9
WILLIAM
Rep. Pascrell, Bill, Jr. [D-NJ-9]
N
PASCRELL
J.
D
NJ
K000389
17
Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-04-15
CA
T000483
6
David
Rep. Trone, David J. [D-MD-6]
Trone
J.
D
2021-05-04
MD
B001223
16
Jamaal
Rep. Bowman, Jamaal [D-NY-16]
Bowman
D
2021-07-21
NY
Capital gains tax Income tax exclusion Transfer and inheritance taxes
2021-03-29
Introduced in House
 <p>This bill treats property transferred by gift or upon the death of a decedent as sold at its fair market value (thus requiring recognition of gain realized over the property's basis). Under current law there is a step up in basis of such property which allows for an exclusion of gain for gifts and estate property. The bill allows an exception to this fair market value rule for U.S. citizen spouses, charities, and certain tangible property. </p> <p>The bill allows a taxpayer an exclusion from income for up to $1 million (indexed for inflation) in gain resulting from transfers at death. </p> <p>The bill imposes certain information reporting requirements for gifts or bequests subject to this bill's fair market value rule. It also allows taxpayers to pay any tax due in two or more, but not more than seven, equal installments.</p>
2021-11-17T18:59:04Z
00
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.
Official Title as Introduced
2021-03-29
Referred to the House Committee on Ways and Means.