District of Columbia Council Period 26 Status: In Committee

B26-0749 — Wealth Proceeds Tax Amendment Act of 2026

Last action — Public Hearing on B26-0749

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Council
  4. 4
    To Executive
  5. 5
    Enacted

This bill is in committee in the Council. Introduced July 08, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Council.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 14% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill proposes amendments to the Wealth Proceeds Tax.

This legislation seeks to amend existing provisions related to the Wealth Proceeds Tax. It aims to update regulations governing the taxation of wealth proceeds in the District.

Summary

Wealth Proceeds Tax Amendment Act of 2026

Bill Text

How this bill changes current law

6 changes Share ↗

Compared against the D.C. Code as published AI-generated reading aid — verify against the official bill.

The bill establishes a Wealth Proceeds Tax on high-income households in the District of Columbia, creating a surcharge on certain types of investment income.

  • Chapter 18 of Title 47

    (a) The table of contents is amended by inserting a new line to read as follows: “§ 47-1806.03a. Wealth Proceeds Tax.”.

    Adds a new entry in the tax code's table of contents for the Wealth Proceeds Tax.

  • § 47-1806.03a

    For the purposes of this section, the following definitions shall apply: “(1) “District modified adjusted gross income” means federal modified adjusted gross income, subject to the adjustments set forth in § 47-1803.02(a)(1)(B)(ii). “(2) The term “federal modified adjusted gross income” shall have the same meaning as set forth in section 1411(d) of the Internal Revenue Code, subject to the following adjustments: “(A) Interest on U.S. obligations that District is prohibited from taxing under federal law shall be excluded; and “(B) Interest on obligations issued by state and local governments other than the District shall be included. “(3) “Threshold amount” means: ...

    Establishes definitions relevant to the Wealth Proceeds Tax, including adjustments to income calculations.

  • § 47-1806.03a

    In the case of an individual, estate, or trust there is hereby imposed (in addition to any other tax imposed) for each taxable year beginning after December 31, 2025, a tax equal to 3 percent of the lesser of: “(1) Wealth proceeds for such taxable year, or “(2) Federal modified adjusted gross income for such taxable year, less the threshold amount.

    Imposes a 3% tax on high-income households based on their wealth proceeds or modified adjusted gross income.

  • § 47-1806.03a

    For an individual who is not a resident of the District for the entire taxable year, the tax under this subsection must be calculated as if the individual is a resident of the District for the entire year...

    Specifies tax calculation for non-residents to ensure taxation as if they were residents.

  • § 47-1806.03a

    All references to the Internal Revenue Code in this section shall refer to the code in effect as of January 1, 2026.

    Clarifies that references to the Internal Revenue Code are applicable as they existed on a certain date.

  • § 1-301.47a

    The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required...

    Links the bill with the requirement for a fiscal impact statement, ensuring accountability for financial implications.

Action History

  1. Public Hearing on B26-0749

  2. Notice of Public Hearing filed in the Office of Secretary by Committee of the Whole

  3. Notice of Intent to Act on B26-0749 Published in the District of Columbia Register

  4. Referred to Committee of the Whole

  5. B26-0749 Introduced by Councilmember Nadeau at Office of the Secretary

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 13 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (13)

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does B26-0749 do?
Wealth Proceeds Tax Amendment Act of 2026
Who sponsors B26-0749?
B26-0749 is sponsored by Brianne K. Nadeau.
What is the current status of B26-0749?
This bill is in committee in the Council. Introduced July 08, 2026. It must pass committee before a floor vote.
Where can I track B26-0749?
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