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- H.R.1509
H.R.1509: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced March 13, 2007
- Latest Major Action March 13, 2007
- See the seven similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
28 (15 Democrats, 14 Republicans)
Bill Summary
Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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| March 13, 2007 |
Introduced in the House by Richard E. Neal (D-Mass.) |