US Congress House Bill 3460 (Prior Session Legislation)

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November 17 2011 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

American Jobs First Act of 2011 - Amends the Internal Revenue Code to extend the election to deduct dividends received by a domestic corporation from a controlled foreign corporation. Increases the amount of such deduction by increases in the payroll of the domestic corporation over the previous taxable year. Requires the Secretary of the Treasury to provide, by regulations, for a recapture of any portion of the increased tax deduction allowed to a domestic corporation if such corporation's payroll decreases during either of the two taxable years following the taxable year in which the increased deduction was allowed.

American Jobs First Act of 2011

Rep Berkley, Shelley

Rep Moran, James P.

Rep Polis, Jared

Date	Chamber	Action
2011-11-17	House	Referred to the House Committee on Ways and Means.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d112:HN03460:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-112hr3460ih/pdf/BILLS-112hr3460ih.pdf