“The term `applicable date' means the date of the enactment of this paragraph.”
The section adds a new paragraph (6) to section 1202(a) of the Internal Revenue Code of 1986 defining the applicable date as the date the paragraph was enacted, and the acquisition date as the first day the taxpayer held the stock, worked out after applying section 1223.
What the document actually says
“The term `applicable date' means the date of the enactment of this paragraph.”
That sentence, in plain words
The applicable date is the day this paragraph became law.
What this is about
That date splits older stock from newer. The acquisition date is the first day the holder had the stock. Another rule may pull that day back.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70431, 139 Stat. 240 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The applicable date is the day this paragraph was enacted,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70431, Sec. 70431. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70431-applicable-date/ (retrieved October 10, 2026).
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