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H.R. 1926 · 108th Congress

Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

9 cosponsors · 9 R

0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA) - Amends the Internal Revenue Code to impose on the collecting attorney: (1) in each excess fee transaction a tax equal to five percent of such fee; and (2) in any case in which such tax is imposed and the excess fee involved is not corrected within the taxable period, a tax of 200…

What it does: CRS summary · Introduced in House · May 1, 2003
Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA) - Amends the Internal Revenue Code to impose on the collecting attorney: (1) in each excess fee transaction a tax equal to five percent of such fee; and (2) in any case in which such tax is imposed and the excess fee involved is not corrected within the taxable period, a tax of 200 percent of the excess fee involved.

Defines: (1) collecting attorney; (2) excess fee transaction; and (3) taxable period.

Authorizes Tax Court declaratory judgments with respect to excise taxes on excess fee transactions.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA)

Latest action (May 1, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: May 1, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.