S 1942
104th Congress
Senate
Taxation
Aliens
Capital gains tax
Commerce
Dividends
Estate tax
Finance and Financial Sector
Foreign Trade and International Finance
Foreign corporations
Foreign investments
Foreign ownership of real property
Immigration
Income tax
Interest
Mutual funds
Real estate investment
Stockholders
Stocks
Tax exclusion
Taxation of foreign income
Investment Competitiveness Act of 1996
Introduced: July 10, 1996
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 10, 1996
Read twice and referred to the Committee on Finance.
Jul 10, 1996
Sponsor introductory remarks on measure. (CR S7674-7675)
Jul 10, 1996
Introduced in Senate
Plain-English summary
Investment Competitiveness Act of 1996 - Amends the Internal Revenue Code to exempt interest-related dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with U.S. business. Provides exceptions.
Provides for determining: (1) taxable-interest dividends; and (2) taxable estate stock of nonresident non-citizens in regulated investment companies.
Applies the special rules for real estate investment trusts on the disposition of investment in U.S. real property to regulated investment companies.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1