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S 1355 104th Congress Senate

American Jobs and Manufacturing Preservation Act of 1995

Official title: A bill to amend the Internal Revenue Code of 1986 to end deferral for United States shareholders on income of controlled foreign corporations attributable to property imported into the United States.

Introduced: March 21, 1996 See on congress.gov
Taxation CommerceForeign Trade and International FinanceForeign corporationsForeign tax credit
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ImportsIncome taxLawLease and rental servicesLeasesLicensesTaxation of foreign income
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 28, 1996
Sponsor introductory remarks on measure. (CR S1385-1386)
Oct 23, 1995
Read twice and referred to the Committee on Finance.
Oct 23, 1995
Sponsor introductory remarks on measure. (CR S15498)
Oct 23, 1995
Introduced in Senate
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 Latest action February 28, 1996

Sponsor introductory remarks on measure. (CR S1385-1386)

 Plain-English summary Congressional Research Service

American Jobs and Manufacturing Preservation Act of 1995 - 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 income 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Wyden, Ron
Oregon · Mar 21, 1996
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APA
U.S. Congress. (2026). S. 1355: American Jobs and Manufacturing Preservation Act of 1995. 104th Congress. Open America. https://openamerica.io/bill/104-S-1355/
MLA
"S. 1355: American Jobs and Manufacturing Preservation Act of 1995." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-S-1355/.
Bluebook (legal)
S. 1355, 104th Cong. (2026), https://openamerica.io/bill/104-S-1355/.
Markdown link
[S. 1355: American Jobs and Manufacturing Preservation Act of 1995](https://openamerica.io/bill/104-S-1355/)
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