S. 989

Summary

S. 989, the Precious Metals Parity Act, was introduced in the Senate on Mar 12, 2025 by Sen. Catherine Cortez Masto (D) with 3 co-sponsors. It was referred to Finance, and last saw action on Mar 12, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 989 has 3 co-sponsors.

119 S989 IS: Precious Metals Parity Act
 U.S. Senate
 2025-03-12
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 989  IN THE SENATE OF THE UNITED STATES   March 12, 2025   Ms. Cortez Masto  (for herself,  Mr. Risch , and  Ms. Lummis ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.
1.
Short title
This Act may be cited as the   Precious Metals Parity Act  .
2.
Treatment of income received by regulated investment companies from precious metals
(a)
In general
 Section 851(b)(2)(A)  of the Internal Revenue Code of 1986 is amended—
(1)
by striking  or foreign currencies  and inserting  , foreign currencies, or precious metals, , and
(2)
by striking  or currencies  and inserting  currencies, or precious metals .
(b)
Effective date
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

A bill to amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.

Sponsors

Sen. Catherine Cortez Masto (D) sponsors S. 989, and 3 members have co-sponsored it, 2 of them from the day it was introduced.

Catherine Cortez Masto

Sen. · D–NV · Sponsor

Introduced Mar 12, 2025

Cynthia Lummis

Sen. · R–WY · Co-sponsor

Joined Mar 12, 2025 · Original

James Risch

Sen. · R–ID · Co-sponsor

Joined Mar 12, 2025 · Original

Mike Lee

Sen. · R–UT · Co-sponsor

Joined May 12, 2026

Show 4 of 4 rows

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Committees

S. 989 went before 1 committee: Finance.

Finance

Finance

Referred To · Mar 12, 2025 · 902 Bills

Actions

S. 989 has taken 2 actions since Mar 12, 2025.

Votes

S. 989 has not gone to a roll call.

Titles

S. 989 goes by 3 titles, 1 of them short titles.

• Precious Metals Parity Act — Display Title
• Precious Metals Parity Act — Short Title(s) as Introduced
• A bill to amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income. — Official Title as Introduced

Lobbying

6 clients hired 5 firms and 17 registered lobbyists who named S. 989 in 16 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Taxation/Internal Revenue Code, Budget/Appropriations, Clean Air and Water (quality), Chemicals/Chemical Industry, Defense, Energy/Nuclear, Labor Issues/Antitrust/Workplace, Natural Resources.

Clients

Who paid to be heard, by how many filings named the bill.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files S. 989 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 989’s is Taxation.

Source: congress.gov · legiscan.com