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S 3120 107th Congress Senate Government Operations and Politics Corporate collapse Corporation taxes Debarment of government contractors Foreign corporations Government contractors International corporations Presidential powers Subsidiary corporations Tax evasion Tax havens Tax shelters

Reclaiming Expatriated Contracts and Profits Act

Introduced: October 16, 2002 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 16, 2002
Read twice and referred to the Committee on Governmental Affairs. (text of measure as introduced: CR S10577-10578)
Oct 16, 2002
Sponsor introductory remarks on measure. (CR S10576-10577)
Oct 16, 2002
Introduced in Senate
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 Plain-English summary Congressional Research Service
Reclaiming Expatriated Contracts and Profits Act - Prohibits awarding Federal contracts or subcontracts to foreign incorporated entities treated as inverted domestic corporations (a domestic corporation 80 percent of the stock of which is controlled by the former domestic stockholders or partners after the corporation is acquired by a foreign entity) and requires adjustments to Federal contract bids from certain previously acquired entities (a price increase for bids evaluated solely on price; a quantitative evaluation reduction for bids evaluated on two or more factors) for a specified period following such acquisition.

Authorizes: (1) a presidential waiver in the interest of national security; and (2) an exception to the application of this Act for entities that were not acquired to avoid Federal income taxation.

What's happening now October 16, 2002

Read twice and referred to the Committee on Governmental Affairs. (text of measure as introduced: CR S10577-10578)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Collins, Susan M.
Maine · Oct 16, 2002
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3120: Reclaiming Expatriated Contracts and Profits Act. 107th Congress. Open America. https://openamerica.io/bill/107-S-3120/
MLA
"S. 3120: Reclaiming Expatriated Contracts and Profits Act." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-S-3120/.
Bluebook (legal)
S. 3120, 107th Cong. (2026), https://openamerica.io/bill/107-S-3120/.
Markdown link
[S. 3120: Reclaiming Expatriated Contracts and Profits Act](https://openamerica.io/bill/107-S-3120/)
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