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S 196 109th Congress Senate

A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property.

Introduced: February 7, 2005 See on congress.gov
Taxation CommerceCorporation taxesForeign Trade and International FinanceForeign corporations
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ImportsIncome taxTaxation of foreign income
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 26, 2005
Read twice and referred to the Committee on Finance.
Jan 26, 2005
Sponsor introductory remarks on measure. (CR S605)
Jan 26, 2005
Introduced in Senate
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 Latest action January 26, 2005

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States.

 Related & companion bills 1
  • S 872 Identical bill A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporati…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Feb 7, 2005
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APA
U.S. Congress. (2026). S. 196: A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property.. 109th Congress. Open America. https://openamerica.io/bill/109-S-196/
MLA
"S. 196: A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property.." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-196/.
Bluebook (legal)
S. 196, 109th Cong. (2026), https://openamerica.io/bill/109-S-196/.
Markdown link
[S. 196: A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property.](https://openamerica.io/bill/109-S-196/)
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