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H.R. 7760

U.S. House•In House Committee

Summary

H.R. 7760, the Protect Future Dividends Act, was introduced in the House on Mar 3, 2026 by Rep. Nicholas Begich (R). It was referred to Ways And Means, and last saw action on Mar 3, 2026: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 7760 has no co-sponsors and has not gone to a roll call.

hb7760/introduced-in-house.txt
119 HR 7760 IH: Protect Future Dividends Act
 U.S. House of Representatives
 2026-03-03
 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.
 I  119th CONGRESS  2d Session  H. R. 7760  IN THE HOUSE OF REPRESENTATIVES   March 3, 2026   Mr. Begich  introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to exclude from gross income payments from funds established by a State for purposes of the welfare of the individual residents of such State.
1.
Short title
This Act may be cited as the   Protect Future Dividends Act  .
2.
Exclusion of payments from State sovereign wealth funds
(a)
In general
Part III of subchapter B of  chapter 1  of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following new section:
139M.
Payments from State sovereign wealth funds
(a)
In general
Gross income does not include any payment received by an individual from a State sovereign wealth fund.
(b)
State sovereign wealth fund
For purposes of this section, the term  State sovereign wealth fund  means a permanent fund—
(1)
which is established and maintained by a State solely for the benefit of individual residents of such State,
(2)
to which amounts of State revenue designated under State law are directed,
(3)
the principal of which is invested in a manner prescribed under State law, and
(4)
from which periodic payments are made under State law to individuals based primarily on residency within the State and not in consideration for anything.
 .
(b)
Clerical amendment
The table of sections for subchapter B of chapter 1 of such Code is amended by inserting before the item relating to section 140 the following new item:
Sec. 139M. Payments from State sovereign wealth funds.
  .
(c)
Effective date
The amendments made by this section shall apply to payments received 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.

  1. Introduced2026-03-03
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

To amend the Internal Revenue Code of 1986 to exclude from gross income payments from funds established by a State for purposes of the welfare of the individual residents of such State.

Sponsors

Rep. Nicholas Begich (R) sponsors H.R. 7760 alone.

Nicholas Begich

Rep. · R–AK · Sponsor

Committees

H.R. 7760 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Mar 3, 2026 · 1,160 Bills

Actions

H.R. 7760 has taken 2 actions since Mar 3, 2026.

ChamberAction
Mar 3, 2026
House
Introduced in House
Mar 3, 2026
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 7760 has not gone to a roll call.

Titles

H.R. 7760 goes by 3 titles, 1 of them short titles.

  • Protect Future Dividends Act — Display Title
  • Protect Future Dividends Act — Short Title(s) as Introduced
  • To amend the Internal Revenue Code of 1986 to exclude from gross income payments from funds established by a State for purposes of the welfare of the individual residents of such State. — Official Title as Introduced

Classification

The Congressional Research Service files H.R. 7760 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 7760’s is Taxation.

hr7760/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 7760, as entered in the Congressional Record.

[Congressional Record Volume 172, Number 40 (Tuesday, March 3, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BEGICH:H.R. 7760.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8.[Page H2369]

Source: congress.gov · legiscan.com