3.0.0 3948 2023-01-11T13:21:16Z 2023-01-11T13:21:16Z Senate S S 2010-11-17 111 ssfi00 Finance Committee Senate Standing Referred to 2010-11-17T15:52:17Z 111 4337 HR 2010-12-22 Became Public Law No: 111-325. Related bill CRS 2010-11-17 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2010-11-17 Introduced in Senate IntroReferral 10000 9 Library of Congress B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS N C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2010-11-17 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2010-11-17 True H.R.4337 https://www.congress.gov/bill/111th-congress/house-bill/4337 Taxation Banking and financial institutions regulation Capital gains tax Commodities markets Financial services and investments Income tax credits Income tax deferral Income tax exclusion Interest, dividends, interest rates Sales and excise taxes Securities Tax administration and collection, taxpayers Taxation of foreign income Taxation

00 2010-11-17 Introduced in Senate 2010-11-26T18:50:39Z Regulated Investment Company Modernization Act of 2010 - Amends the Internal Revenue Code, with respect to regulated investment companies (RICs), to: (1) allow an unlimited carryforward of the net capital losses of RICs; (2) eliminate restrictions on the investment of RICs in commodities; (3) limit penalties for the failure of RICs to satisfy gross income and asset tests; (4) modify rules for allocating RIC capital gain dividend distributions; (5) include certain nondeductible items of RIC income in earnings and profit calculations; (6) allow RICs that invest exclusively in the shares of other RICs to pass through to their shareholders tax-exempt interest and foreign tax credits, without regard to certain investment limitations; (7) modify rules relating to the declaration of RIC dividends, return of capital distributions, and stock redemptions; (8) allow certain RICs with shares that are redeemable upon demand to treat distributions in redemption of stock as an exchange of fund shares or a dividend for tax purposes; (9) allow a deferral of end-of-year losses of RICs; (10) exempt certain regularly declared exempt-interest dividends of RICs from holding period requirements; (11) increase the annual amount of capital gain net income of RICs required to be distributed; and (12) modify excise tax and penalty rules applicable to RICs.

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Display Title Official Title as Introduced Introduced in Senate IS Short Titles as Introduced Introduced in Senate 2010-11-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s3948is/xml/BILLS-111s3948is.xml 2010-11-17 Read twice and referred to the Committee on Finance. 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.