[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 2678 Introduced in Senate (IS)]
106th CONGRESS
2d Session
S. 2678
To amend the Internal Revenue Code of 1986 to treat gold, silver, and
platinum, in either coin or bar form, in the same manner as stocks and
bonds for purposes of the maximum capital gains rate for individuals.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 6, 2000
Mr. Bryan (for himself, Mr. Murkowski, Mr. Reid, and Mr. Allard)
introduced the following bill; which was read twice and referred to the
Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to treat gold, silver, and
platinum, in either coin or bar form, in the same manner as stocks and
bonds for purposes of the maximum capital gains rate for individuals.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. GOLD, SILVER, AND PLATINUM TREATED IN THE SAME MANNER AS
STOCKS AND BONDS FOR MAXIMUM CAPITAL GAINS RATE FOR
INDIVIDUALS.
(a) In General.--Subparagraph (A) of section 1(h)(6) of the
Internal Revenue Code of 1986 (relating to definition of collectibles
gain and loss) is amended by striking ``without regard to paragraph (3)
thereof'' and inserting ``without regard to so much of paragraph (3)
thereof as relates to palladium and the bullion requirement for
physical possession by a trustee''.
(b) Effective Date.--The amendment made by subsection (a) shall to
taxable years beginning after December 31, 1999.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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