S 887
108th Congress
Senate
Taxation
Auditing
Business records
Civil actions and liability
Class actions (Civil procedure)
Commerce
Drug abuse
Evidence (Law)
Excise tax
Florida
Government Operations and Politics
Government contractors
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Health
Injunctions
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Legal fees
Liability (Law)
Medicaid
Minnesota
Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA)
Introduced: April 10, 2003
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5240-5242)
Apr 10, 2003
Sponsor introductory remarks on measure. (CR S5237-5240)
Apr 10, 2003
Introduced in Senate
Plain-English summary
Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA) - Amends the Internal Revenue Code to impose on the collecting attorney: (1) in each excess fee transaction a tax equal to five percent of such fee; and (2) in any case in which such tax is imposed and the excess fee involved is not corrected within the taxable period, a tax of 200 percent of the excess fee involved.
Defines: (1) collecting attorney; (2) excess fee transaction; and (3) taxable period.
Authorizes Tax Court declaratory judgments with respect to excise taxes on excess fee transactions.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5240-5242)
Committees of jurisdiction
1
Cosponsors
1