H.R. 3460 · 112th Congress
American Jobs First Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BerkleySponsor
American Jobs First Act of 2011 - Amends the Internal Revenue Code to extend the election to deduct dividends received by a domestic corporation from a controlled foreign corporation. Increases the amount of such deduction by increases in the payroll of the domestic corporation over the previous taxable year.
What it does: CRS summary · Introduced in House · Nov 17, 2011
American Jobs First Act of 2011 - Amends the Internal Revenue Code to extend the election to deduct dividends received by a domestic corporation from a controlled foreign corporation. Increases the amount of such deduction by increases in the payroll of the domestic corporation over the previous taxable year. Requires the Secretary of the Treasury to provide, by regulations, for a recapture of any portion of the increased tax deduction allowed to a domestic corporation if such corporation's payroll decreases during either of the two taxable years following the taxable year in which the increased deduction was allowed.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Jobs First Act of 2011
Latest action (Nov 17, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 17, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.