[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4069 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 4069

 To amend the Internal Revenue Code of 1986 to extend the period that 
     regulated investment companies may carry over capital losses.


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                    IN THE HOUSE OF REPRESENTATIVES

                            October 17, 2005

 Mr. Shaw (for himself, Mr. Pomeroy, and Mr. English of Pennsylvania) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to extend the period that 
     regulated investment companies may carry over capital losses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Mutual Fund Shareholder Equity Act 
of 2005''.

SEC. 2. EXTENSION OF CAPITAL LOSS CARRYOVER FOR REGULATED INVESTMENT 
              COMPANIES TO TEN YEARS.

    (a) In General.--Clause (i) of section 1212(a)(1)(C) of the 
Internal Revenue Code of 1986 is amended by striking ``8'' and 
inserting ``10''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to any net capital loss which (without regard to the amendment 
made by this section) may be a capital loss carryover to a taxable year 
ending after the date of enactment of this Act.
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