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119-s-989119th CongressWALLET

Precious Metals Parity Act

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

This bill would make income from precious metals count as qualifying income for regulated investment companies (RICs). It amends the Internal Revenue Code to add precious metals to the list of assets whose income qualifies under the RIC qualifying-income rule that currently includes foreign currencies and currencies. The change would let funds that receive income tied to precious metals treat that income as qualifying for the RIC test. The amendment would apply to taxable years beginning after the date of enactment.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Funds can count precious metals income

This bill would let a regulated investment company (a mutual fund or ETF) count income it gets from precious metals, like gold or silver, as qualifying income for the RIC tax test. If enacted, funds that earn income from precious metals could use that income to meet the qualifying-income test that helps them keep their special RIC tax treatment. The change would apply to taxable years beginning after the date of enactment.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Risch, James E. [R-ID]

    ID • R

    Sponsored 3/12/2025

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 3/12/2025

  • Sen. Lee, Mike [R-UT]

    UT • R

    Sponsored 5/12/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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