H.R.1464: Inclusive Prosperity Act of 2015

About This Bill

  • Introduced March 19, 2015
  • Latest Major Action March 19, 2015

Bill Sponsor

Bill Progress

  • Bill introduced in the House
      
  • Bill passed in the House
      
  • Bill passed in the Senate
      
  • Bill signed into law

Bill Summary

Inclusive Prosperity Act of 2015 Amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

(Source: Congressional Research Service)

Bill Actions

Date Description
March 18, 2015 Referred to the House Committee on Ways and Means.
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