118th Congress · HOUSE BILLBILL

H.R. 7760 — No Capital Gains Allowance for American Adversaries Act

“To amend the Internal Revenue Code of 1986 to treat certain gains and dividends derived from counties of concern as ordinary income.”

Taxation

Introduced Mar 20, 2024

Last action Mar 20, 2024

Pipeline · Bill → Law

Step 1

Introduced

Mar 20, 2024

Step 2

Referred

Mar 20, 2024

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill treats gains and dividends derived from transactions involving countries of concern as ordinary income. The bill defines countries of concern to include China (including Hong Kong and Macao and excluding Taiwan), Russia, Belarus, Iran, and North Korea.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Mar 20, 2024

Introduced in House

Mar 20, 2024

Referred to the House Committee on Ways and Means.