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114-hr-2889114th Congress

Carried Interest Fairness Act of 2015

Sponsored By: Representative SANDER LEVIN

Unknown

Summary

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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

SANDER LEVIN

MI • D

Cosponsors

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 6/25/2015

  • CHARLES RANGEL

    NY • D

    Sponsored 6/25/2015

  • JIM MCDERMOTT

    WA • D

    Sponsored 6/25/2015

  • Rep. Pascrell, Bill, Jr. [D-NJ-9]

    NJ • D

    Sponsored 10/1/2015

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 4/20/2016

  • ELIJAH CUMMINGS

    MD • D

    Sponsored 4/20/2016

  • Rep. Beyer, Donald S. [D-VA-8]

    VA • D

    Sponsored 5/11/2016

  • Rep. DeLauro, Rosa L. [D-CT-3]

    CT • D

    Sponsored 5/11/2016

  • Rep. Schakowsky, Janice D. [D-IL-9]

    IL • D

    Sponsored 5/11/2016

  • Rep. Pocan, Mark [D-WI-2]

    WI • D

    Sponsored 5/11/2016

  • Rep. Velázquez, Nydia M. [D-NY-7]

    NY • D

    Sponsored 5/25/2016

  • JOHN CONYERS

    MI • D

    Sponsored 5/25/2016

  • Rep. DeFazio, Peter A. [D-OR-4]

    OR • D

    Sponsored 5/25/2016

  • Rep. Watson Coleman, Bonnie [D-NJ-12]

    NJ • D

    Sponsored 5/25/2016

  • Sen. Duckworth, Tammy [D-IL]

    IL • D

    Sponsored 6/3/2016

  • Rep. Napolitano, Grace F. [D-CA-31]

    CA • D

    Sponsored 6/3/2016

  • Rep. Kirkpatrick, Ann [D-AZ-1]

    AZ • D

    Sponsored 6/3/2016

  • Rep. Takano, Mark [D-CA-39]

    CA • D

    Sponsored 6/8/2016

  • Rep. Pallone, Frank [D-NJ-6]

    NJ • D

    Sponsored 7/6/2016

  • Rep. Roybal-Allard, Lucille [D-CA-40]

    CA • D

    Sponsored 7/6/2016

  • LOUISE SLAUGHTER

    NY • D

    Sponsored 7/6/2016

  • Rep. Kaptur, Marcy [D-OH-9]

    OH • D

    Sponsored 7/6/2016

  • Rep. DeSaulnier, Mark [D-CA-10]

    CA • D

    Sponsored 7/6/2016

  • Rep. Blumenauer, Earl [D-OR-3]

    OR • D

    Sponsored 7/13/2016

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 7/13/2016

  • Rep. Ellison, Keith [D-MN-5]

    MN • D

    Sponsored 6/25/2015

  • Rep. Grayson, Alan [D-FL-9]

    FL • D

    Sponsored 5/11/2016

  • Rep. Sarbanes, John P. [D-MD-3]

    MD • D

    Sponsored 5/11/2016

  • Rep. Garamendi, John [D-CA-8]

    CA • D

    Sponsored 5/11/2016

  • Rep. Lowenthal, Alan S. [D-CA-47]

    CA • D

    Sponsored 5/11/2016

  • LUIS GUTIERREZ

    IL • D

    Sponsored 5/25/2016

  • Rep. Higgins, Brian [D-NY-26]

    NY • D

    Sponsored 5/25/2016

  • Rep. Tonko, Paul [D-NY-20]

    NY • D

    Sponsored 6/8/2016

  • Rep. Scott, Robert C. "Bobby" [D-VA-3]

    VA • D

    Sponsored 7/6/2016

  • JOSE SERRANO

    NY • D

    Sponsored 7/6/2016

  • Rep. Hastings, Alcee L. [D-FL-20]

    FL • D

    Sponsored 7/6/2016

  • Rep. Ryan, Tim [D-OH-13]

    OH • D

    Sponsored 9/8/2016

  • Rep. McCollum, Betty [D-MN-4]

    MN • D

    Sponsored 9/22/2016

  • Rep. Grijalva, Raúl M. [D-AZ-7]

    AZ • D

    Sponsored 9/22/2016

  • Rep. Wilson, Frederica S. [D-FL-24]

    FL • D

    Sponsored 9/27/2016

  • Rep. Cicilline, David N. [D-RI-1]

    RI • D

    Sponsored 9/27/2016

  • CORRINE BROWN

    FL • D

    Sponsored 11/17/2016

  • Rep. Price, David E. [D-NC-4]

    NC • D

    Sponsored 11/17/2016

  • ROBERT BRADY

    PA • D

    Sponsored 12/16/2016

  • Rep. Moore, Gwen [D-WI-4]

    WI • D

    Sponsored 9/8/2016

  • Rep. Courtney, Joe [D-CT-2]

    CT • D

    Sponsored 9/8/2016

  • Rep. Jeffries, Hakeem S. [D-NY-8]

    NY • D

    Sponsored 9/8/2016

  • Rep. Maloney, Sean Patrick [D-NY-18]

    NY • D

    Sponsored 9/8/2016

  • Rep. Nadler, Jerrold [D-NY-12]

    NY • D

    Sponsored 9/8/2016

  • Rep. Lee, Barbara [D-CA-12]

    CA • D

    Sponsored 9/20/2016

  • Sen. Gallego, Ruben [D-AZ]

    AZ • D

    Sponsored 9/22/2016

  • Rep. Langevin, James R. [D-RI-2]

    RI • D

    Sponsored 9/27/2016

  • Rep. Lofgren, Zoe [D-CA-18]

    CA • D

    Sponsored 11/17/2016

  • Rep. McGovern, James P. [D-MA-2]

    MA • D

    Sponsored 11/17/2016

  • Rep. Adams, Alma S. [D-NC-12]

    NC • D

    Sponsored 11/17/2016

  • Rep. Cohen, Steve [D-TN-9]

    TN • D

    Sponsored 11/17/2016

  • Rep. Gabbard, Tulsi [D-HI-2]

    HI • D

    Sponsored 11/17/2016

  • Rep. Jackson Lee, Sheila [D-TX-18]

    TX • D

    Sponsored 11/17/2016

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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