US SB260 | 2009-2010 | 111th Congress
Status
Spectrum: Strong Partisan Bill (Democrat 15-1)
Status: Introduced on January 15 2009 - 25% progression, died in chamber
Action: 2009-01-15 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 15 2009 - 25% progression, died in chamber
Action: 2009-01-15 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property.
Sponsors
| Sen. Barbara Boxer [D-CA] | Sen. Sherrod Brown [D-OH] | Sen. Byron Dorgan [D-ND] | Sen. Richard Durbin [D-IL] |
| Sen. Russell Feingold [D-WI] | Sen. Dianne Feinstein [D-CA] | Sen. Tom Harkin [D-IA] | Sen. Tim Johnson [D-SD] |
| Sen. Edward Kennedy [D-MA] | Sen. Herb Kohl [D-WI] | Sen. Patrick Leahy [D-VT] | Sen. Carl Levin [D-MI] |
| Sen. Barbara Mikulski [D-MD] | Sen. Bernard Sanders [I-VT] | Sen. Debbie Stabenow [D-MI] | Sen. Sheldon Whitehouse [D-RI] |
History
| Date | Chamber | Action |
|---|---|---|
| 2009-01-15 | Read twice and referred to the Committee on Finance. | |
| 2009-01-15 | Sponsor introductory remarks on measure. (CR S616) |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/senate-bill/260/all-info |
| Text | https://www.congress.gov/111/bills/s260/BILLS-111s260is.pdf |
