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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
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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 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
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 Plain-English summary Congressional Research Service
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 March 30, 2004

Sponsor introductory remarks on measure. (CR S3321)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 3 Republican 3
R
Graham, Lindsey
South Carolina · Feb 23, 2004
 D
Murray, Patty
Washington · Nov 12, 2003
 D
Cantwell, Maria
Washington · Sep 23, 2003
 R
Crapo, Mike
Idaho · May 6, 2003
 D
Wyden, Ron
Oregon · Apr 30, 2003
 R
Cornyn, John
Texas · Apr 29, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). S. 596: Invest in the U.S.A. Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-S-596/
MLA
"S. 596: Invest in the U.S.A. Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-S-596/.
Bluebook (legal)
S. 596, 108th Cong. (2026), https://openamerica.io/bill/108-S-596/.
Markdown link
[S. 596: Invest in the U.S.A. Act of 2003](https://openamerica.io/bill/108-S-596/)
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