H.R.4047: International Tax Simplification and Fairness for American Competitiveness Act of 2002

About This Bill

Bill Summary

International Tax Simplification and Fairness for American Competitiveness Act of 2002 - Revises Internal Revenue Code rules relating to the taxation of U.S. businesses operating abroad.Revises provisions concerning treatment of controlled foreign corporations, including: (1) expanding the de minimis rule; (2) excluding from the definition of "foreign base company oil related income" the pipeline transportation of oil or gas within such...

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure.
March 20, 2002

Introduced in the House by Amory Houghton (R-N.Y.)

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