S 1495
110th Congress
Senate
Taxation
Administrative procedure
Commerce
Corporation taxes
Department of the Treasury
Foreign Trade and International Finance
Government Operations and Politics
Income tax
Internal revenue law
Law
Merchant ships
Tax exclusion
Transportation and Public Works
A bill to amend the Internal Revenue Code of 1986 to modify the application of the tonnage tax on vessels operating in the dual United States domestic and foreign trades, and for other purposes.
Introduced: May 24, 2007
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 24, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6865)
May 24, 2007
Sponsor introductory remarks on measure. (CR S6864-6865)
May 24, 2007
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to modify the alternative tax on qualifying shipping activities to treat a corporation electing such tax as continuing to use a qualifying vessel in the U.S. foreign trade during any period of use in the U.S. domestic trade, thus eliminating the 30 day limitation on operating in U.S. domestic trade under current law.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6865)
Committees of jurisdiction
1