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H.R. 50 · 108th Congress

Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2003

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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.

CCR CoxSponsor
50 cosponsors · 50 R

Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2002 (sic) - Amends the Internal Revenue Code to allow a tax credit for a taxpayer other than a corporation in an amount equal to the shareholder credits determined with respect to dividends received from domestic corporations. Sets a maximum amount for the credit.

What it does: CRS summary · Introduced in House · Jan 7, 2003
Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2002 (sic) - Amends the Internal Revenue Code to allow a tax credit for a taxpayer other than a corporation in an amount equal to the shareholder credits determined with respect to dividends received from domestic corporations. Sets a maximum amount for the credit. Prohibits the allotting of credit in certain instances to nonresident aliens.

Provides criteria for calculating a shareholder credit for a dividend. Classifies any shareholder credit determined under this Act as a tax paid by the relevant corporation.

Includes a taxpayer's shareholder credits in gross income.

Permits a corporation to deduct 100 percent of the amount received as dividends from a domestic corporation (presently the Code allows a deduction of 70 percent or 100 percent, depending on the type of dividend). Increases, from 70 to 100 percent, the amount a corporation is allowed to deduct with respect to dividends on certain preferred stock.

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

About this bill and sources

Official title: Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2003

Latest action (Jan 7, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jan 7, 2003

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

No recorded floor vote found.