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HR 1509 110th Congress House

To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

Introduced: May 2, 2007 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
Taxation American investmentsBank holding companiesCommerceCorporation taxes
More subjectsShow fewer subjects
Finance and Financial SectorFinancial servicesForeign Trade and International FinanceForeign banks and bankingForeign corporationsHolding companiesIncome taxInsuranceInsurance companiesStockholdersTax deferralTax exclusionTaxation of foreign income
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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
Mar 13, 2007
Referred to the House Committee on Ways and Means.
Mar 13, 2007
Sponsor introductory remarks on measure. (CR E530)
Mar 13, 2007
Introduced in House
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 Latest action March 13, 2007

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.
 Related & companion bills 1
  • S 940 Identical bill A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing in…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1
R
Foxx, Virginia
North Carolina · May 13, 2008
 D
Thompson, Mike
California · May 2, 2007
 D
Larson, John B.
Connecticut · Mar 13, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1509: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.. 110th Congress. Open America. https://openamerica.io/bill/110-HR-1509/
MLA
"H.R. 1509: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-1509/.
Bluebook (legal)
H.R. 1509, 110th Cong. (2026), https://openamerica.io/bill/110-HR-1509/.
Markdown link
[H.R. 1509: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.](https://openamerica.io/bill/110-HR-1509/)
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