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H.R. 9044

BillFederalHouseIntroduced
To amend the Internal Revenue Code of 1986 to create a safe harbor for certain perpetual trust funds.
About This Bill
Introduced
Congress
117th (2021–2023)
Introduced
September 29, 2022
Cosponsors (13)
8D 5R
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Summary

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This bill creates a safe harbor for certain perpetual trust funds. It excludes from the definition of investment property under arbitrage provisions any fund created and controlled by a state and established pursuant to its constitution or state law if on a specified date, substantially all of the assets of the fund consist of nonfinancial assets and the assets are used only to support specifically designated essential governmental functions.

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