To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing…

Full title

To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

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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 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D NealSponsor

28 cosponsors · 14 D, 14 R

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

Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business…

What it does: CRS summary · Introduced in House · Mar 13, 2007

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

About this bill and sources

Official title: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

Latest action (Mar 13, 2007): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Mar 13, 2007

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

No recorded floor vote found.