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S. 1070 · 108th Congress

World Trade Center Zone Tax Incentive Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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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.

CSD SchumerSponsor

No cosponsors.

World Trade Center Zone Tax Incentive Act - Amends the Internal Revenue Code to state that if there is a qualified headquarters relocation of an eligible foreign corporation, any qualified headquarters activities of the corporation conducted in the New York Liberty Zone shall be treated as conducted outside the United States for purposes of determining: (1)…

What it does: CRS summary · Introduced in Senate · May 15, 2003
World Trade Center Zone Tax Incentive Act - Amends the Internal Revenue Code to state that if there is a qualified headquarters relocation of an eligible foreign corporation, any qualified headquarters activities of the corporation conducted in the New York Liberty Zone shall be treated as conducted outside the United States for purposes of determining: (1) the amount of any tax or withholding tax; or (2) whether the corporation has a permanent establishment within the United States for purposes of any applicable income tax treaty between the United States and any foreign country.

Sets forth "qualified headquarters relocation" criteria with respect to transfers of employees and headquarters activities.

Provides for termination and recapture of tax benefits for failure to meet such requirements.

Defines "expanded affiliated group" for purposes of this Act.

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

About this bill and sources

Official title: World Trade Center Zone Tax Incentive Act

Latest action (May 15, 2003): Read twice and referred to the Committee on Finance.

Policy area: Taxation · Origin: Senate · Introduced: May 15, 2003

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

No recorded floor vote found.