US SB1506 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Republican 21-1)
Status: Introduced on August 2 2011 - 25% progression, died in committee
Action: 2011-08-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 2 2011 - 25% progression, died in committee
Action: 2011-08-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits the Secretary of the Treasury from requiring a payor of interest to file an information return on interest that is not effectively connected with a trade or business within the United States and that is paid to a nonresident alien on a deposit maintained at an office within the United States.
Title
A bill to prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.
Sponsors
| Sen. Marco Rubio [R-FL] | Sen. Kelly Ayotte [R-NH] | Sen. John Barrasso [R-WY] | Sen. Roy Blunt [R-MO] |
| Sen. John Boozman [R-AR] | Sen. Richard Burr [R-NC] | Sen. Saxby Chambliss [R-GA] | Sen. Tom Coburn [R-OK] |
| Sen. John Cornyn [R-TX] | Sen. Jim DeMint [R-SC] | Sen. Orrin Hatch [R-UT] | Sen. Kay Hutchison [R-TX] |
| Sen. James Inhofe [R-OK] | Sen. Ron Johnson [R-WI] | Sen. Mike Lee [R-UT] | Sen. Bill Nelson [D-FL] |
| Sen. Rand Paul [R-KY] | Sen. James Risch [R-ID] | Sen. Jeff Sessions [R-AL] | Sen. John Thune [R-SD] |
| Sen. David Vitter [R-LA] | Sen. Roger Wicker [R-MS] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-08-02 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB2568 (Same As) 2011-07-15 - Referred to the House Committee on Ways and Means.
Subjects
Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Business records
Department of the Treasury
Finance and financial sector
Government information and archives
Interest, dividends, interest rates
Bank accounts, deposits, capital
Banking and financial institutions regulation
Business records
Department of the Treasury
Finance and financial sector
Government information and archives
Interest, dividends, interest rates
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/senate-bill/1506/all-info |
| Text | https://www.congress.gov/112/bills/s1506/BILLS-112s1506is.pdf |
