H.R. 7760 — Protect Future Dividends Act

This section establishes a new exclusion from gross income for payments received by individuals from a State sovereign wealth fund (i.e., a permanent fund established and maintained by a State solely for the benefit of its residents, funded by designated State revenues, with principal invested per State law, and from which periodic payments are made under State law primarily based on residency). The exclusion applies to payments received after the date of enactment.