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HR 1162 108th Congress House

Invest in America Act of 2003

Official title: To amend the Internal Revenue Service Code of 1986 to allow a deduction for certain distributions from a controlled foreign corporation to encourage companies … Show full official titleShow less

Official title: To amend the Internal Revenue Service Code of 1986 to allow a deduction for certain distributions from a controlled foreign corporation to encourage companies to invest in worker hiring and training, infrastructure investments, capital investments, financial stabilization of the company, and research and development.

Introduced: October 8, 2003 Introduced by: Smith, Adam Democratic · Washington See on congress.gov
Taxation Buy AmericanCommerceCorporation taxesDividends
More subjectsShow fewer subjects
Finance and Financial SectorForeign Trade and International FinanceForeign corporationsForeign tax creditIncome taxInvestmentsMinimum taxStockholdersTax deductionsTaxation of foreign income
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 6, 2003
Referred to the House Committee on Ways and Means.
Mar 6, 2003
Introduced in House
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 Latest action March 6, 2003

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Invest in America Act of 2003 - Amends Internal Revenue Code provisions concerning controlled foreign corporations to allow, during the first taxable year of a U.S. shareholder ending 90 days after enactment, a limited dividend received deduction if the distribution is reinvested pursuant to a plan, approved by the president or chief executive officer of the U.S. shareholder prior to the distribution, under which the distribution is reinvested in the United States.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 8
All 8 Democratic 4
D
DeGette, Diana
Colorado · Apr 1, 2004
 D
Thompson, Mike
California · Oct 8, 2003
Bell, Chris
· Apr 10, 2003
 D
Case, Ed
Hawaii · Mar 6, 2003
DOOLEY, CAL
· Mar 6, 2003
JOHN, CHRISTOPHER
· Mar 6, 2003
 D
Lofgren, Zoe
California · Mar 6, 2003
TURNER, JIM
· Mar 6, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1162: Invest in America Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-HR-1162/
MLA
"H.R. 1162: Invest in America Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-1162/.
Bluebook (legal)
H.R. 1162, 108th Cong. (2026), https://openamerica.io/bill/108-HR-1162/.
Markdown link
[H.R. 1162: Invest in America Act of 2003](https://openamerica.io/bill/108-HR-1162/)
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