I 
117TH CONGRESS 
1ST SESSION 
H. R. 984 
To amend the Internal Revenue Code of 1986 to provide for the indexing 
of certain assets for purposes of determining gain or loss of eligible 
individuals. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 11, 2021 
Mr. EMMER introduced the following bill; which was referred to the Committee 
on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
for the indexing of certain assets for purposes of deter-
mining gain or loss of eligible individuals. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Retirement Inflation 
Protection Act of 2021’’. 
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SEC. 2. INDEXING OF CERTAIN ASSETS FOR PURPOSES OF 
DETERMINING GAIN OR LOSS OF ELIGIBLE 
INDIVIDUALS. 
(a) IN GENERAL.—Part II of subchapter O of chap-
ter 1 of the Internal Revenue Code of 1986 is amended 
by inserting after section 1017 the following new section: 
‘‘SEC. 1018. INDEXING OF CERTAIN ASSETS FOR PURPOSES 
OF DETERMINING GAIN OR LOSS OF ELIGI-
BLE INDIVIDUALS. 
‘‘(a) IN GENERAL.— 
‘‘(1) INDEXED
BASIS
SUBSTITUTED
FOR
AD-
JUSTED BASIS.—Solely for purposes of determining 
gain or loss on the sale or other disposition by an 
eligible individual of an indexed asset which has 
been held by such individual for more than 3 years, 
the indexed basis of the asset shall be substituted 
for its adjusted basis. 
‘‘(2) EXCEPTION
FOR
DEPRECIATION, ETC.— 
The deductions for depreciation, depletion, and am-
ortization shall be determined without regard to the 
application of paragraph (1) to the taxpayer or any 
other person. 
‘‘(3) WRITTEN
DOCUMENTATION
REQUIRE-
MENT.—Paragraph (1) shall apply only with respect 
to indexed assets for which the taxpayer has written 
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documentation of the original purchase price paid or 
incurred by the taxpayer to acquire such asset. 
‘‘(b) ELIGIBLE INDIVIDUAL.—For purposes of this 
section, the term ‘eligible individual’ means, with respect 
to any indexed asset, any individual if such individual has 
attained age 591⁄2 as of the date of the sale or other dis-
position of such asset. 
‘‘(c) INDEXED ASSET.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, the term ‘indexed asset’ means— 
‘‘(A) common stock in a C corporation 
(other than a foreign corporation), or 
‘‘(B) tangible property, 
which is a capital asset or property used in the trade 
or business (as defined in section 1231(b)). 
‘‘(2) STOCK
IN
CERTAIN
FOREIGN
CORPORA-
TIONS INCLUDED.—For purposes of this section— 
‘‘(A) IN
GENERAL.—The term ‘indexed 
asset’ includes common stock in a foreign cor-
poration which is regularly traded on an estab-
lished securities market. 
‘‘(B) 
EXCEPTION.—Subparagraph 
(A) 
shall not apply to— 
‘‘(i) stock of a foreign investment 
company, 
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