Code Section 1256
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 1256 | 7/21/2010 | The Dodd-Frank Wall Street Reform and Consumer Protection Act 1134 | Certain Swaps, etc., Not Treated as Section 1256 Contracts | 120 |
Certain Swaps, etc., Not Treated as Section 1256 Contracts
Explanation of Provision
The provision excludes from the definition of ‘‘section 1256 contract’’ any interest rate swap, interest rate cap, interest rate floor, commodity swap, equity swap, equity index swap, credit default swap, or similar agreement.
1134- H.R. 4173. The bill passed the House on December 11, 2009. The Senate passed the bill with an amendment on May 20, 2010. The conference report was filed on June 29, 2010 (H.R. Rep. No. 111–517) and was passed by the House on June 30, 2010, and the Senate on July 15, 2010. The President signed the bill on July 21, 2010.
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