S. 611Senate108th Congress (2003-2005)In Committee

Fair Treatment for Precious Metals Investors Act

Sponsored by Harry ReidSen. Harry Reid (D-NV)
Introduced March 13, 2003

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3732)

March 13, 2003

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SenateIntro Referral

Introduced in Senate

March 13, 2003

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S3732)

March 13, 2003

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3732)

March 13, 2003

Floor Debate

15 members

What members said about S. 611 on the floor

8 Republicans7 Democrats
Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Mar 13, 2003

Mr. President, today I introduce a Senate companion to a joint resolution already introduced in the House by Congressman Sherrod Brown of Ohio. This resolution is quite simple. It requires the…

Rick Santorum
Sen. Rick SantorumR-PA · Mar 13, 2003

Mr. President, today, I am pleased to introduce, along with my colleague Senator Miller, the bipartisan Teacher Paperwork Reduction Act of 2003. During the 107th Congress, we were successful in…

Harry Reid
Sen. Harry ReidD-NV · Mar 13, 2003

Mr. President, last Congress, I introduced the Fair Treatment for Precious Metals Investors Act to correct a flawed capital gains tax definition, which includes precious metals investments as…

Jeff Bingaman
Sen. Jeff BingamanD-NM · Mar 13, 2003

Mr. President, I rise today to introduce legislation with Senators Jeffords, Murray, Leahy, and Cantwell entitled the ``Children's Health Equity Act of 2003.'' This bill addresses an inequity that…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Mar 13, 2003

Mr. President, I rise today to introduce the Mercury Reduction Act of 2003. I am pleased that my colleagues, Senators Jeffords, Chafee, Kerry, Hutchison, Reed, Lieberman, Voinovich, Dorgan, and Leahy…

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John Edwards
Sen. John EdwardsD-NC · Mar 13, 2003

Mr. President, I rise today along with my colleagues Mr. Lautenburg and Mr. Levin to re-introduce the College Fire Prevention Act. This measure would provide Federal matching grants for the…

Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Mar 13, 2003

Mr. President, I rise today to introduce the No Taxation Without Representation Act of 2003 legislation that will right an ongoing injustice experienced by 600,000 American citizens--the citizens of…

Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Mar 13, 2003

Mr. President, it is an honor to join my colleague Senator Grassley today in re-introducing the Family Opportunity Act of--so that once and for all, we can remove the health care barriers for…

Ben Nighthorse Campbell
Sen. Ben Nighthorse CampbellR-CO · Mar 13, 2003

Mr. President, today I am introducing a bill to facilitate the move of the Denver Veterans Affairs Medical Center, DVAMC, from its present site in Denver to the former Fitzsimons Army Medical Center…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Mar 13, 2003

Mr. President, Senator Kennedy and I are happy to announce the introduction of the Family Opportunity Act of 2003, a bill to promote family, work, and opportunity. Every day, across the country,…

Robert F. Bennett
Sen. Robert F. BennettR-UT · Mar 13, 2003

Mr. President, I rise today to introduce the ``Glen Canyon National Recreation Area Boundary Revision Act.'' This legislation will revise the total acreage within the National Recreation Area's, NRA,…

Harry Reid
Sen. Harry ReidD-NV · Mar 13, 2003

Mr. President, last Congress, I introduced the Fair Treatment for Precious Metals Investors Act to correct a flawed capital gains tax definition, which includes precious metals investments as…

John Warner
Sen. John WarnerR-VA · Mar 13, 2003

Mr. President, today I am introducing legislation to provide some relief for our Nation's retired Federal employees from the severe increases in Federal Employee Health Benefit, FEHB, program…

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Ted Stevens
Sen. Ted StevensR-AK · Mar 13, 2003

Madam President, on February 1, 2003, the Space Shuttle Columbia was lost during re-entry into Earth's atmosphere. We all mourn that tragic loss. But although our hearts have been filled with sorrow,…

Max Baucus
Sen. Max BaucusD-MT · Mar 13, 2003

Mr. President, I rise today to introduce the U.S.-Russia Trade Act of 2003. This legislation would grant Permanent Normal Trade Relations to Russia. However--and I want to be very clear about this…

Jon Kyl
Sen. Jon KylR-AZ · Mar 13, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in SenateIssued March 13, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 611 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 611

To amend the Internal Revenue Code of 1986 to treat gold, silver, and
platinum, in either coin or bar form, in the same manner as stocks and
bonds for purposes of the maximum capital gains rate for individuals.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

March 13, 2003

Mr. Reid (for himself, Mr. Ensign, Mr. Allard, Mr. Miller, and Mr.
Crapo) 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 treat gold, silver, and
platinum, in either coin or bar form, in the same manner as stocks and
bonds for purposes of the maximum capital gains rate for individuals.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Fair Treatment for Precious Metals
Investors Act''.

SEC. 2. GOLD, SILVER, AND PLATINUM TREATED IN THE SAME MANNER AS STOCKS
AND BONDS FOR MAXIMUM CAPITAL GAINS RATE FOR INDIVIDUALS.

(a) In General.--Subparagraph (A) of section 1(h)(6) of the
Internal Revenue Code of 1986 (relating to definition of collectibles
gain and loss) is amended by striking ``without regard to paragraph (3)
thereof'' and inserting ``without regard to so much of paragraph (3)
thereof as relates to palladium and the bullion requirement for
physical possession by a trustee''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply to taxable years beginning after December 31, 2002.
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