S 936
108th Congress
Senate
Taxation
Compensation for victims of crime
Crime and Law Enforcement
Finance and Financial Sector
Fines (Penalties)
Income tax
Law
Securities regulation
Stock exchanges
Tax deductions
Government Settlement Transparency Act of 2003
Introduced: April 29, 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 29, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5488)
Apr 29, 2003
Sponsor introductory remarks on measure. (CR S5487-5488)
Apr 29, 2003
Introduced in Senate
Plain-English summary
Government Settlement Transparency Act of 2003 - Amends the Internal Revenue Code to deny a business deduction for any amount paid or incurred (whether by suit, agreement, or otherwise) to, or at the direction of, a government or certain nongovernmental regulatory entities in relation to the violation, or potential violation, of any law.
Provides an exception for any amount which the taxpayer establishes constitutes restitution for damage or harm caused by the violation, or potential violation, of any law. (Excludes any amount paid or incurred as reimbursement to the government for the costs of any investigation or litigation.)
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5488)
Committees of jurisdiction
1
Cosponsors
1