HR 2058

112th CONGRESS
1st Session

H. R. 2058

To amend the Internal Revenue Code of 1986 to clarify the capital gain or loss treatment of the sale or exchange of mitigation credits earned by restoring wetlands, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 31, 2011

Mr. BOUSTANY 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 clarify the capital gain or loss treatment of the sale or exchange of mitigation credits earned by restoring wetlands, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. CLARIFICATION OF TREATMENT OF SALES OR EXCHANGES OF WETLAND MITIGATION CREDITS AS LONG-TERM CAPITAL GAIN OR LOSS.

`SEC. 1257A. GAINS OR LOSSES FROM SALES OR EXCHANGES OF WETLANDS MITIGATION CREDITS.

SEC. 3. EXEMPTION OF WETLAND MITIGATION CREDIT SALES FROM FIRPTA.

END