3.0.0 3848 2022-11-01T13:50:31Z 2022-11-01T13:50:31Z House HR 2019-07-18 116 [Congressional Record Volume 165, Number 121 (Thursday, July 18, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POCAN:H.R. 3848.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution[Page H7152]]]> hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Referred to 2019-08-12T16:17:04Z Referred to 2019-07-18T13:02:15Z hsed00 Education and the Workforce Committee House Standing Referred to 2019-07-18T13:02:20Z hsba00 Financial Services Committee House Standing Referred to 2019-07-18T13:02:10Z hswm00 Ways and Means Committee House Standing Referred to 2019-07-18T13:02:05Z Carried Interest Fairness Act of 2019 116 781 S 2019-03-13 Read twice and referred to the Committee on Finance. Related bill CRS Stop Wall Street Looting Act 116 2155 S 2019-07-17 Read twice and referred to the Committee on Finance. Identical bill CRS Carried Interest Fairness Act of 2019 116 1735 HR 2019-03-13 Referred to the House Committee on Ways and Means. Related bill CRS 2019-08-12 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. Committee 2019-07-18 Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2019-07-18 Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2019-07-18 Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-07-18 Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-07-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-07-18 Introduced in House IntroReferral 1000 9 Library of Congress P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 N J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2019-07-18 True G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 2019-07-18 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2019-07-18 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2019-07-18 True L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2019-07-18 True P000617 Rep. Pressley, Ayanna [D-MA-7] Ayanna Pressley D MA 7 2019-07-18 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2019-07-18 True T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-07-18 True O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2019-07-24 False O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2019-08-02 False D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2019-08-06 False N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2019-08-20 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-08-20 False G000571 Rep. Gabbard, Tulsi [D-HI-2] Tulsi Gabbard D HI 2 2019-12-11 False A000370 Rep. Adams, Alma S. [D-NC-12] Alma Adams D NC S. 12 2020-01-13 False L000560 Rep. Larsen, Rick [D-WA-2] RICK LARSEN D WA 2 2020-02-04 False M001188 Rep. Meng, Grace [D-NY-6] Grace Meng D NY 6 2020-03-04 False Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Bankruptcy Capital gains tax Civil actions and liability Corporate finance and management Employee benefits and pensions Financial services and investments Fraud offenses and financial crimes Income tax deductions Income tax rates Interest, dividends, interest rates Marketing and advertising Real estate business Securities Securities and Exchange Commission (SEC) Self-employed Tax administration and collection, taxpayers Unemployment Wages and earnings Finance and Financial Sector 00 2019-07-18 Introduced in House 2020-08-24T15:00:27Z Stop Wall Street Looting Act

This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill

  • increases financial and legal liability for these funds in the event of certain violations of law,
  • gives employee compensation higher priority in bankruptcies, and
  • generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund.

The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.

]]> Stop Wall Street Looting Act Display Title Stop Wall Street Looting Act Official Title as Introduced To require the Securities and Exchange Commission to issue rules requiring private funds to publicly disclose certain information, and for other purposes. Introduced in House IH Short Title(s) as Introduced Stop Wall Street Looting Act Introduced in House IH Introduced in House 2019-07-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr3848ih/xml/BILLS-116hr3848ih.xml 2019-08-12 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. 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.