HR 2889
102th Congress
House
Taxation
Foreign Trade and International Finance
Foreign corporations
Foreign tax credit
Imports
Income tax
Taxation of foreign income
American Jobs and Manufacturing Preservation Act of 1991
Introduced: July 15, 1991
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 3, 1991
Committee Hearings Held.
Jul 15, 1991
Referred to the House Committee on Ways and Means.
Jul 15, 1991
Introduced in House
Plain-English summary
American Jobs and Manufacturing Preservation Act of 1991 - Amends the Internal Revenue Code to include imported property income of a controlled foreign corporation or related person as foreign base company income. Defines imported property income as that from: (1) manufacturing, producing, growing, or extracting imported property; (2) the sale, exchange, or other disposition of imported property; or (3) the lease, rental, or licensing of imported property.
Requires the separate application of the limitation on the foreign tax credit on imported property income. Applies the look-thru rules in the case of controlled foreign corporations to such income.
What's happening now
Committee Hearings Held.
Committees of jurisdiction
1