US SB162 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on January 13 2015 - 25% progression, died in committee
Action: 2015-01-13 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Offshoring Prevention Act Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

Tracking Information

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Title

Offshoring Prevention Act

Sponsors


History

DateChamberAction
2015-01-13SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB305 (Same As) 2015-01-13 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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