[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2078 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2078

 To amend the Internal Revenue Code of 1986 to treat Alaska Permanent 
    Fund dividends as earned income for purposes of the kiddie tax.


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                   IN THE SENATE OF THE UNITED STATES

                             July 10, 2019

 Ms. Murkowski introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to treat Alaska Permanent 
    Fund dividends as earned income for purposes of the kiddie tax.

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

SECTION 1. CERTAIN SCHOLARSHIPS TREATED AS EARNED INCOME FOR KIDDIE 
              TAX.

    (a) In General.--Section 1(g)(4) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new subparagraph:
                    ``(D) Treatment of alaska permanent fund 
                dividends.--For purposes of this subsection, any Alaska 
                Permanent Fund dividend which is received by the child 
                referred to in paragraph (1) and included in the gross 
                income of such child shall be treated as earned income 
                of such child.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2017.
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