H.R. 4912 would amend the Internal Revenue Code of 1986 with respect to the treatment of prepaid derivative contracts.

== Detailed Summary ==

<summary>
(Log inAmends the Internal Revenue Code to editset forth rules for the wikitreatment of income, loss, and be the firstdistributions relating to provide a detailed summary ofprepaid derivative contract. Defines &quot;prepaid derivative contract&quot; as any prepaid contract with a term longer than one year from the bill!)date of issue which is a derivative financial instrument with respect to any security, commodity, or financial index.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 12/19/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
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== Points in Favor ==

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== Points Against ==

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