Carried Interest Fairness Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 25, 2015)
Carried Interest Fairness Act of 2015
Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, (3) exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, (4) exempt certain family partnerships from the application of this Act; (5) increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and (6) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes.
Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.
What just happenedJun 25, 2015
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 25, 2015
- Jun 25, 2015IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 25, 2015IntroReferralIntro-H
Introduced in House
- Jun 25, 2015IntroReferral1000
Introduced in House