,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #iebi  ,,in ,,the ,,house ,,of  
,,representatives  ,june #bi1 #bjbf,ms4 
,salinas introduced the following bill2 
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf to
 impose a tax on net capital gain       
accrued while serving as ,president of  
the ,united ,states4  #a4 ,short title  
,this ,act may be cited as the ,no      
,official ,presidential ,returns ,on    
,furtive ,individual ,trades ,act or the
 ,,no ,,profit ,act4  #b4 ,imposition of
 tax on net capital gain accrued while  
serving as ,president of the ,united    
,states  7a7 ,in general ,section #a of 
the ,internal ,revenue ,code of #aihf is
 amended by adding at the end the       
following new subsection3  7k7 ,special 
rules for net capital gain accrued while
 serving as ,president of the ,united   
,states  7#a7 ,in general ,if a taxpayer
 has a qualified net capital gain for   
any applicable taxable year1 the tax    

imposed by this section on such gain for
 such taxable year shall be equal to    
#ajj percent of such gain4 ,proper      
adjustments shall be made in the        
application of this section to ensure   
that gain subject to tax under the      
preceding sentence is not subject to    
additional tax under this section4  7#b7
 ,mark to market ,in the case of any    
capital asset other than a qualified    
capital asset which is held by a        
taxpayer at the close of any applicable 
taxable year-- 7,a7 such taxpayer shall 
recognize gain or loss on such capital  
asset as if such capital asset were sold
 for its fair market value on the last  
business day of such taxable year1 and  
7,b7 any gain or loss shall be taken    
into account for such taxable year4     
,proper adjustments shall be made in the
 amount of any gain or loss subsequently
 realized for gain or loss taken into   
account under the preceding sentence4   
7#c7 ,definitions ,for purposes of this 
subsection--  7,a7 ,qualified net       

capital gain ,the term qualified net    
capital gain means1 with respect to any 
applicable taxable year1 an amount equal
 to the excess 7if any7 of-- 7i7 the    
aggregate amount of gain from the sale  
or exchange during such taxable year of 
any capital asset other than a qualified
 capital asset1 if and to the extent    
that such gain is taken into account in 
computing gross income1 over  7ii7 the  
aggregate amount of loss from the sale  
or exchange during such taxable year of 
any capital asset other than a qualified
 capital asset1 if and to the extent    
that such loss is taken into account in 
computing taxable income4  7,b7         
,qualified capital asset ,the term      
qualified capital asset means1 with     
respect to any taxpayer1 any capital    
asset which1 at all times during which  
the individual is serving as ,president 
of the ,united ,states1 is not held by  
such taxpayer other than in a qualified 
blind trust 7as defined in section      
#acajd7;f77#c7 of title #e1 ,united     

,states ,code74  7,c7 ,applicable       
taxable year ,the term applicable       
taxable year means1 with respect to any 
taxpayer1 any taxable year during any   
portion of which the individual served  
as ,president of the ,united ,states4  4
  7b7 ,effective date ,the amendment    
made by subsection 7a7 shall apply with 
respect to taxable years beginning after
 ,december #ca1 #bjbd4