---
title: "Billionaires Income Tax Act"
identifier: "119-HR-5427"
congress: 119
bill_number: 5427
bill_type: "HR"
version_code: "ih"
version_type: "Introduced in House"
bill_url: "https://chamberzero.com/congresses/119/bills/hr/5427"
source: "https://www.congress.gov/bill/119th-congress/house-bill/5427"
site: "Chamber Zero"
site_url: "https://chamberzero.com"
rendered_at: "2026-06-04T00:40:51.516Z"
---
## SEC. 1 Short title; amendment of 1986 Code; table of contents.

[Read Section 1 →](/congresses/119/bills/hr/5427/sections/1-section-one.md)

## SEC. 2 Purpose.

[Read Section 2 →](/congresses/119/bills/hr/5427/sections/2.md)

# TITLE I — Elimination of deferral for applicable taxpayers

## SEC. 101 Elimination of deferral of tax.

[Read Section 101 →](/congresses/119/bills/hr/5427/sections/TI-101.md)

## SEC. 102 Carryback of capital losses attributable to mark-to-market rules.

[Read Section 102 →](/congresses/119/bills/hr/5427/sections/TI-102.md)

# TITLE II — Application of other provisions to applicable taxpayers and entities

## Subtitle A — Individuals

## SEC. 201 Applicable taxpayers not eligible for adjusted gross income limitation on net investment tax.

[Read Section 201 →](/congresses/119/bills/hr/5427/sections/TII-201.md)

## SEC. 202 Treatment of covered expatriates.

[Read Section 202 →](/congresses/119/bills/hr/5427/sections/TII-202.md)

## Subtitle B — Rules for applicable entities and trusts

## SEC. 211 Treatment of like-kind exchanges by applicable entities.

[Read Section 211 →](/congresses/119/bills/hr/5427/sections/TII-211.md)

## SEC. 212 Treatment of transfers by applicable entities in exchange for stock.

[Read Section 212 →](/congresses/119/bills/hr/5427/sections/TII-212.md)

## SEC. 213 Special rules for applicable trusts.

[Read Section 213 →](/congresses/119/bills/hr/5427/sections/TII-213.md)

## Subtitle C — Treatment of deferred compensation and certain life insurance and annuity contracts

## SEC. 221 Elimination of deferral of tax on certain compensation.

[Read Section 221 →](/congresses/119/bills/hr/5427/sections/TII-221.md)

## SEC. 222 Rules relating to certain life insurance and annuity contracts of applicable taxpayers.

[Read Section 222 →](/congresses/119/bills/hr/5427/sections/TII-222.md)

## Subtitle D — Repeal of special treatment for certain investments

## SEC. 231 Treatment of exclusion for certain small business stock.

[Read Section 231 →](/congresses/119/bills/hr/5427/sections/TII-231.md)

## SEC. 232 Modifications for investments in qualified opportunity funds.

[Read Section 232 →](/congresses/119/bills/hr/5427/sections/TII-232.md)