What does Preamble of Protect Future Dividends Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would exclude payments from state-established funds from gross income. These funds are intended for the welfare of individual residents of the state.

What does SHORT TITLE. of Protect Future Dividends Act do?

This Act is formally titled the 'Protect Future Dividends Act'.

What does EXCLUSION OF PAYMENTS FROM STATE SOVEREIGN WEALTH FUNDS. of Protect Future Dividends Act do?

This section amends the Internal Revenue Code of 1986 to exclude payments received by individuals from State sovereign wealth funds from gross income. A 'State sovereign wealth fund' is defined as a permanent fund established and maintained by a State solely for the benefit of individual residents. The fund must receive amounts of State revenue designated under State law, have its principal invested according to State law, and make periodic payments to individuals based primarily on residency. Payments are not made 'in consideration for anything'. A new section, 139M, is inserted into the Internal Revenue Code to reflect this exclusion. The amendments apply to payments received after the date of enactment of this Act.

Back to bills

Protect Future Dividends Act

Last updated: 3/3/2026 · Introduced: 3/3/2026

Author: Nicholas Begich (R-AK)

TL;DR (AI)

This bill excludes payments received from state-established sovereign wealth funds from federal gross income.
These funds must be created to benefit state residents, funded by state revenue, and distribute payments primarily based on residency.
The exclusion applies to payments received after the bill's enactment.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account