S. 3208 · 111th Congress
Reinvesting in U.S. Territories, Not Corporations Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MenendezSponsor4 cosponsors · 2 D, 2 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Reinvesting in U.S. Territories, Not Corporations Act - Amends the Internal Revenue Code to reduce the amount of distilled spirits excise tax revenue returned (covered over) to the treasuries of Puerto Rico or the Virgin Islands by the amount of any unreasonable and excessive rum subsidy paid or incurred by either jurisdiction in an applicable calendar…
What it does: CRS summary · Introduced in Senate · Apr 15, 2010
Reinvesting in U.S. Territories, Not Corporations Act - Amends the Internal Revenue Code to reduce the amount of distilled spirits excise tax revenue returned (covered over) to the treasuries of Puerto Rico or the Virgin Islands by the amount of any unreasonable and excessive rum subsidy paid or incurred by either jurisdiction in an applicable calendar year. Defines "unreasonable and excessive rum subsidy" as the excess, if any, of the aggregate amount of direct and indirect government assistance paid to producers of distilled spirits in Puerto Rico or the Virginia Islands over 10% of the amounts covered over into the treasuries of such jurisdictions in a calendar year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Reinvesting in U.S. Territories, Not Corporations Act
Latest action (Apr 15, 2010): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Apr 15, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.