US HB961 | 2015-2016 | 114th Congress
Status
Spectrum: Slight Partisan Bill (Republican 11-6)
Status: Introduced on February 12 2015 - 25% progression, died in chamber
Action: 2015-10-23 - Placed on the Union Calendar, Calendar No. 233.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 12 2015 - 25% progression, died in chamber
Action: 2015-10-23 - Placed on the Union Calendar, Calendar No. 233.
Text: Latest bill text (Introduced) [PDF]
Summary
Permanent Active Financing Exception Act of 2015 (Sec. 2) This bill amends the Internal Revenue Code to make permanent the subpart F foreign personal holding company income exemption for income that is derived in the active conduct of a banking, financing, or similar business, as a securities dealer, or in the conduct of an insurance business.
Title
Permanent Active Financing Exception Act of 2015
Sponsors
| Rep. Patrick Tiberi [R-OH] | Rep. Richard Neal [D-MA] | Rep. Ron Kind [D-WI] | Rep. John Larson [D-CT] |
| Rep. Bill Pascrell [D-NJ] | Rep. Mike Thompson [D-CA] | Rep. Tom Reed [R-NY] | Rep. Peter Roskam [R-IL] |
| Sen. Todd Young [R-IN] | Rep. Charles Boustany [R-LA] | Rep. Linda Sanchez [D-CA] | Rep. Aaron Schock [R-IL] |
| Rep. Sam Johnson [R-TX] | Rep. Adrian Smith [R-NE] | Rep. Kenny Marchant [R-TX] | Rep. Kristi Noem [R-SD] |
| Rep. Erik Paulsen [R-MN] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-10-23 | House | Placed on the Union Calendar, Calendar No. 233. |
| 2015-10-23 | House | Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-307. |
| 2015-09-17 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 22 - 11. |
| 2015-09-17 | House | Committee Consideration and Mark-up Session Held. |
| 2015-02-12 | House | Referred to the House Committee on Ways and Means. |
| 2015-02-12 | House | Introduced in House |
Same As/Similar To
SB1946 (Related) 2015-08-05 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 198.
Subjects
Financial services and investments
Foreign and international banking
Foreign and international corporations
Income tax exclusion
Insurance industry and regulation
Taxation
Taxation of foreign income
Foreign and international banking
Foreign and international corporations
Income tax exclusion
Insurance industry and regulation
Taxation
Taxation of foreign income
