119 HR 9060 IH: Precious Metals Parity Act U.S. House of Representatives 2026-05-29 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.

I119th CONGRESS2d SessionH. R. 9060IN THE HOUSE OF REPRESENTATIVESMay 29, 2026Mr. Hern of Oklahoma (for himself, Mr. Horsford, and Mr. Moran) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.

1.

Short title

This Act may be cited as the Precious Metals Parity Act.

2.

Treatment of income received by regulated investment companies from precious metals

(a)

In general

Section 851(b) of the Internal Revenue Code of 1986 is amended— (1)in paragraph (2)(A)— (A)by striking or foreign currencies and inserting , foreign currencies, or precious metals, and (B)by striking or currencies and inserting currencies, or precious metals, and (2)by adding at the end the following new sentence: For purposes of paragraph (2), the term precious metals means any gold, silver, platinum, or palladium bullion described in section 408(m)(3)(B).. (b)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.