S. 3205 · 112th Congress
Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy
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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.
D
SchumerSponsor4 cosponsors · 4 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy or the Ex-PATRIOT Act - Amends the Internal Revenue Code to impose a 30% tax and withholding on capital gains income realized by a nonresident alien individual present in the United States for periods aggregating 183 days or more or an expatriate who has renounced his or her…
What it does: CRS summary · Introduced in Senate · May 17, 2012
Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy or the Ex-PATRIOT Act - Amends the Internal Revenue Code to impose a 30% tax and withholding on capital gains income realized by a nonresident alien individual present in the United States for periods aggregating 183 days or more or an expatriate who has renounced his or her U.S. citizenship for tax avoidance purposes (specified expatriate).
Amends the Immigration and Nationality Act to: (1) render a specified expatriate inadmissible to the United States, and (2) prohibit any waiver of such inadmissibility. Directs the Secretary of the Treasury, in consultation with the Secretaries of State and Homeland Security (DHS), to develop a policy for granting a waiver of inadmissibility to a specified expatriate who satisfies a tax liability related to such expatriate's renunciation of of U.S. citizenship.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Ex-PATRIOT Act
Latest action (May 17, 2012): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 17, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.