United States 116th Congress Status: In Committee 1 R cosponsors

S 2078 — A bill to amend the Internal Revenue Code of 1986 to treat Alaska Permanent Fund dividends as earned income for purposes of the kiddie tax.

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

This bill treats dividends paid to children from the Alaska Permanent Fund as earned income, not subject to the "kiddie tax" which taxes income of children as unearned income subject to the parent's marginal tax rate.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill treats Alaska Permanent Fund dividends as earned income for the purposes of the kiddie tax.

  • Section 1(g)(4) of the Internal Revenue Code of 1986

    (D) Treatment of alaska permanent fund dividends.--For purposes of this subsection, any Alaska Permanent Fund dividend which is received by the child referred to in paragraph (1) and included in the gross income of such child shall be treated as earned income of such child.

    This addition specifies that Alaska Permanent Fund dividends are considered earned income for kiddie tax calculations.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation
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Frequently asked questions

What does S 2078 do?
This bill treats dividends paid to children from the Alaska Permanent Fund as earned income, not subject to the "kiddie tax" which taxes income of children as unearned income subject to the parent's marginal tax rate.
Who sponsors S 2078?
S 2078 is sponsored by Murkowski, Lisa (Republican).
What is the current status of S 2078?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 2078?
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Last checked for changes 3 months ago · updated continuously

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