S. 940 · 110th Congress
A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active…
Full title
A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.
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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
BaucusSponsor10 cosponsors · 3 D, 7 R
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Crapo
OH
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Hatch
AS
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Specter
GS
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Smith
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Rockefeller
TL
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Lott
PR
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Roberts
JB
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Bunning
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Schumer
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Lincoln2 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 Senate · Mar 20, 2007
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 permanently extend the subpart F exemption for active financing income.
Latest action (Mar 20, 2007): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Mar 20, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.