S 596
108th Congress
Senate
Taxation
Affiliated corporations
Capital investments
Commerce
Corporation taxes
Dividends
Employee training
Finance and Financial Sector
Foreign Trade and International Finance
Foreign corporations
Foreign tax credit
Income tax
Job creation
Labor and Employment
Minimum tax
Research and development
Science, Technology, Communications
Stockholders
Subsidiary corporations
Tax rates
Invest in the U.S.A. Act of 2003
Introduced: March 11, 2003
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 30, 2004
Sponsor introductory remarks on measure. (CR S3321)
Mar 18, 2003
Star Print ordered on the bill.
Mar 11, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3519-3520)
Mar 11, 2003
Sponsor introductory remarks on measure. (CR S3519)
Mar 11, 2003
Introduced in Senate
Plain-English summary
Invest in the U.S.A. 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 alternative minimum tax or corporate rates, if dividends received are reinvested in the United States in an approved plan.
Limits foreign tax credits with respect to dividends taxed at such 5.25 percent rate.
What's happening now
Sponsor introductory remarks on measure. (CR S3321)
Committees of jurisdiction
1