Precious Metals Parity Act

Bill Number

H.R. 9060

Origin Chamber

House

Congress

119th Congress, Session 2

Policy Area

Taxation

Status

Introduced

Latest Action

2026-05-29: Referred to the House Committee on Ways and Means.

Last Updated

2026-06-08T17:57:24Z

AI-Generated Summary

Purpose This legislation amends the Internal Revenue Code to treat income received by regulated investment companies from precious metals as qualifying income for tax purposes.

Key Provisions

• Amends Section 851(b)(2)(A) of the Internal Revenue Code of 1986 to include "precious metals" alongside existing categories such as foreign currencies.
• Defines "precious metals" as gold, silver, platinum, or palladium bullion meeting the description in section 408(m)(3)(B).
• Applies the changes to taxable years beginning after the date of enactment.

Significant Changes to Existing Law

• Current law lists income from stocks, securities, and foreign currencies as qualifying for regulated investment companies; this bill adds precious metals to that list.
• Removes the prior exclusion of precious metals from qualifying income treatment.

Potential Impacts

• May allow certain investment vehicles focused on precious metals to maintain regulated investment company status and associated tax benefits.
• Could affect tax reporting and compliance for companies holding or receiving income from gold, silver, platinum, or palladium bullion.
• No direct effects on government agencies beyond the Internal Revenue Service's administration of the tax code, and no noted impacts on international relations.

Main Stakeholders Affected

• Regulated investment companies and their managers.
• Investors holding shares in such companies.
• Entities involved in precious metals trading or investment products.

Notable Legal, Constitutional, or Political Implications

• Represents a targeted tax code adjustment with no apparent constitutional concerns.
• Focuses on parity in income treatment between currencies and certain physical commodities for regulated investment companies.

This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.

Sponsor

Rep. Hern, Kevin [R-OK-1]

Cosponsors (2)

Rep. Horsford, Steven [D-NV-4], Rep. Moran, Nathaniel [R-TX-1]

Recent Actions

• 2026-05-29: Referred to the House Committee on Ways and Means.
• 2026-05-29: Introduced in House
• 2026-05-29: Introduced in House

Bill Versions

• Precious Metals Parity Act — issued 2026-05-29 — PDF (2 pages)