To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services.

3.0.0 2785 2023-01-12T17:52:58Z 2023-01-12T17:52:58Z House H HR 2007-06-20 110 hswm00 Ways and Means Committee House Standing Referred to 2007-06-20T14:01:05Z To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. 110 2834 HR 2007-06-22 Referred to the House Committee on Ways and Means. Related bill CRS A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. 110 1624 S 2007-06-14 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7743-7744) Related bill CRS 2007-06-20 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-06-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-06-20 Introduced in House IntroReferral 1000 9 Library of Congress W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT N Taxation Commerce Corporation taxes Finance and Financial Sector Financial services Income tax Investment advisers Partnerships Taxation

00 2007-06-20 Introduced in House 2007-06-26T18:22:44Z Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services.

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To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. Display Title To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. Introduced in House IH Introduced in House 2007-06-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr2785ih/xml/BILLS-110hr2785ih.xml 2007-06-20 Referred to the House Committee on Ways and Means. 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. 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.