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Read. Follow. Verify.Precious Metals Parity Act (S. 989)
Last action · March 12, 2025: Read twice and referred to the Committee on Finance.Sponsors: Catherine Cortez Masto and 3 others
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What This Bill Would Do
This bill proposes a change to the federal tax code to allow regulated investment companies to count income earned from precious metals as '.' This classification is a requirement for these companies to maintain their status as regulated investment companies under federal tax law.
If passed, this bill would change the tax treatment of precious metal investments for regulated investment companies, potentially affecting how these companies structure their portfolios and report income for tax purposes starting in the next taxable year.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Regulated investment companies
These companies would be permitted to include income from precious metals when calculating their qualifying income for tax purposes.
Internal Revenue Service
The agency would be required to update tax reporting standards to include precious metals as qualifying income for regulated investment companies.
Key Facts
- The bill amends Section 851(b)(2)(A) of the Internal Revenue Code of 1986.
- It adds 'precious metals' to the list of sources that count as 'qualifying income' for regulated investment companies.
- The changes apply to taxable years beginning after the date the bill is enacted into law.
- The bill was introduced in the Senate on March 12, 2025.
Show all 5 facts
- The bill is currently referred to the Senate Committee on Finance.
Frequently Asked Questions
What is a regulated investment company?
When would this change take effect?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
2 actions- Mar 12, 2025SenateCommitteeRead twice and referred to the Committee on Finance.
- Mar 12, 2025SenateIntroducedIntroduced in Senate
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
QUICKEL CONSULTING SERVICES, LLC
on behalf of INTEGER LLC ON BEHALF OF WORLD GOLD COUNCIL
WGC USA, INC.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expansion of Qualifying Income
The bill represents a policy shift to treat precious metals similarly to foreign currencies in the context of investment company tax compliance.
Connected Entities
Sources
www.congress.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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