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S 1284 110th 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: May 3, 2007 See on congress.gov
Taxation CommerceForeign Trade and International FinanceForeign corporationsForeign tax credit
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ImportsIncome taxTaxation 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
May 3, 2007
Read twice and referred to the Committee on Finance.
May 3, 2007
Sponsor introductory remarks on measure. (CR S5571)
May 3, 2007
Introduced in Senate
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 Latest action May 3, 2007

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. Provides for a separate application of limitations on the foreign tax credit for imported property income.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Independent 1
I
Sanders, Bernard
Vermont · Sep 27, 2007
 D
Whitehouse, Sheldon
Rhode Island · Jul 13, 2007
 D
Durbin, Richard J.
Illinois · May 3, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1284: 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.. 110th Congress. Open America. https://openamerica.io/bill/110-S-1284/
MLA
"S. 1284: 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.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1284/.
Bluebook (legal)
S. 1284, 110th Cong. (2026), https://openamerica.io/bill/110-S-1284/.
Markdown link
[S. 1284: 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/110-S-1284/)
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