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HR 1509 110th Congress House Taxation American investments Bank holding companies Commerce Corporation taxes Finance and Financial Sector Financial services Foreign Trade and International Finance Foreign banks and banking Foreign corporations Holding companies Income tax Insurance Insurance companies Stockholders Tax deferral Tax exclusion Taxation of foreign income

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

Introduced: March 13, 2007 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 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
 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.
What's happening now March 13, 2007

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1