S. 1894 · 108th Congress
A bill to amend the Internal Revenue Code of 1986 to provide for the deduction of interest paid in certain…
Full title
A bill to amend the Internal Revenue Code of 1986 to provide for the deduction of interest paid in certain situations where the debt is guaranteed by a related foreign person.
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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.
D
BingamanSponsor
Amends the Internal Revenue Code to eliminate the limitation for the deduction of interest for interest payments on debt guaranteed by a foreign person as long as the taxpayer establishes that it could have borrowed the same amount of debt from an unrelated lender without a guarantee.
What it does: CRS summary · Introduced in Senate · Nov 19, 2003
Amends the Internal Revenue Code to eliminate the limitation for the deduction of interest for interest payments on debt guaranteed by a foreign person as long as the taxpayer establishes that it could have borrowed the same amount of debt from an unrelated lender without a guarantee.
Revises the definition of disqualified interest.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to provide for the deduction of interest paid in certain situations where the debt is guaranteed by a related foreign person.
Latest action (Nov 19, 2003): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Nov 19, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.