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H.R. 1579

BillFederalHouseIn Committee
Inclusive Prosperity Act of 2013
About This Bill
Committee
Latest Action · April 16, 2013
Referred to the House Committee on Ways and Means.
Congress
113th (2013–2015)
Introduced
April 16, 2013
Cosponsors (28)
28D 0R
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Summary

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Inclusive Prosperity Act of 2013 - Amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

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