HR 767
108th Congress
House
Taxation
Affiliated corporations
Commerce
Corporation taxes
Dividends
Finance and Financial Sector
Foreign Trade and International Finance
Foreign corporations
Foreign tax credit
Income tax
Stockholders
Subsidiary corporations
Tax rates
Tax returns
Taxation of foreign income
Homeland Investment Act of 2003
Introduced: February 13, 2003
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2003
Referred to the House Committee on Ways and Means.
Feb 13, 2003
Introduced in House
Plain-English summary
Homeland Investment Act of 2003 - Amends the Internal Revenue Code to permit a U.S. corporation doing business abroad to elect to have its foreign earnings taxed in the United States for one year at a rate equal to 5.25 percent of the excess qualified foreign distribution and the amount attributable to such corporation as controlled foreign-earned dividends in lieu of being taxed under individual or corporate rates.
Limits foreign tax credits with respect to dividends taxed at such 5.25 percent rate.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1