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- S.940
S.940: A bill 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 20, 2007
- Latest Major Action March 20, 2007
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
10 (4 Democrats, 7 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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Read twice and referred to the Committee on Finance.
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March 20, 2007 |
Introduced in the Senate by Max Baucus (D-Mont.) |