HR 9060 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.
Summary
This bill amends the Internal Revenue Code to allow income from precious metals to be treated as qualifying income for regulated investment companies (RICs). Currently, RICs can count income from dividends, interest, and foreign currencies as qualifying income. The bill adds gold, silver, platinum, and palladium bullion to the types of income that qualify. This change would allow RICs to include precious metals investments alongside other qualifying income sources while maintaining their RIC status. The amendments apply to taxable years beginning after the date of enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Hern, Kevin [R-OK-1] (R-OK)
2 cosponsors
Actions (2)
- May 29, 2026 Referred to the House Committee on Ways and Means. · house
- May 29, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
May 29, 2026
Mr. Hern of Oklahoma (for himself, Mr. Horsford, and Mr. Moran) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Precious Metals Parity Act”.
SEC. 2. TREATMENT OF INCOME RECEIVED BY REGULATED INVESTMENT COMPANIES FROM PRECIOUS METALS.
(a) In General.—Section 851(b) of the Internal Revenue Code of 1986 is amended—
(1) in paragraph (2)(A)—
(A) by striking “or foreign currencies” and inserting “, foreign currencies, or precious metals”, and
(B) by striking “or currencies” and inserting “currencies, or precious metals”, and
(2) by adding at the end the following new sentence: “For purposes of paragraph (2), the term ‘precious metals’ means any gold, silver, platinum, or palladium bullion described in section 408(m)(3)(B).”.
(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>
Comments