What does Preamble of Precious Metals Parity Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment concerns income received by regulated investment companies. Specifically, the bill aims to treat income from precious metals as qualifying income for these companies.

What does SHORT TITLE. of Precious Metals Parity Act do?

This Act is formally titled the Precious Metals Parity Act.

What does TREATMENT OF INCOME RECEIVED BY REGULATED INVESTMENT COMPANIES of Precious Metals Parity Act do?

This section amends Section 851(b) of the Internal Revenue Code of 1986. The amendment expands the definition of items treated as currency for purposes of Section 851(b) to include precious metals. The term 'precious metals' is defined as any gold, silver, platinum, or palladium bullion described in section 408(m)(3)(B). The amendments apply to taxable years beginning after the date of enactment of this Act.

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Precious Metals Parity Act

Last updated: 5/29/2026 · Introduced: 5/29/2026

Author: Kevin Hern (R-OK)

TL;DR (AI)

The Precious Metals Parity Act modifies the Internal Revenue Code to allow regulated investment companies to treat income from precious metals as qualifying income.
This bill expands the definition of 'currency' within the Internal Revenue Code to specifically include gold, silver, platinum, and palladium bullion.
The changes introduced by this Act will apply to taxable years beginning after the bill's enactment.

119th Congressin committeeOfficial page

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Other Sections

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

3 sections

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