H.R.507: To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009.

About This Bill

Bill Summary

Amends Internal Revenue Code provisions relating to the tax deduction for dividends received by a U.S. corporation from a controlled foreign corporation to: (1) extend the applicability of such provisions to taxable years beginning after FY2008; and (2) reduce such deduction for corporations that do not maintain certain employment levels.

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Jan. 14, 2009

Introduced in the House by Kevin Brady (R-Texas)

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