# 119-s-989: Precious Metals Parity Act

119-s-989, Precious Metals Parity Act, is a 119th Congress bill sponsored by Sen. Cortez Masto, Catherine [D-NV] (D-NV); status introduced; PRIA reads it as touching household money (as of 2026-05-14).

- Canonical: https://policyrisk.com/legislation/119-s-989
- As of: 2026-05-14
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-989
- Congress: 119
- Title: Precious Metals Parity Act
- Status: introduced
- Introduced: 2025-03-12
- Sponsor: Sen. Cortez Masto, Catherine [D-NV] (D-NV)
- Cosponsors: 3
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-05-14

## 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.

## Cosponsors (3)

- Sen. Risch, James E. [R-ID] (R-ID), 2025-03-12T00:00:00.000Z
- Sen. Lummis, Cynthia M. [R-WY] (R-WY), 2025-03-12T00:00:00.000Z
- Sen. Lee, Mike [R-UT] (R-UT), 2026-05-12T00:00:00.000Z

## Provisions PRIA read

- Funds can count precious metals income: benefit, low. 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…

## Related bills

- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.
- 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina.
- 119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former Senator for the State of Michigan.
- 119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for the State of California.
- 119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States Senator for the State of Idaho.

## Sources
- [119-s-989 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/989)

## Related
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801)
- [119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former S…](https://policyrisk.com/legislation/119-sres-755)
- [119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for…](https://policyrisk.com/legislation/119-sres-739)
- [119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States…](https://policyrisk.com/legislation/119-sres-723)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-989 (as of 2026-05-14).