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S 3359 110th Congress Senate

American Shipping Reinvestment Act of 2008

Official title: A bill to amend the Internal Revenue Code of 1986 to repeal the shipping investment withdrawal rules in section 955 and to provide an incentive to reinvest for… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to repeal the shipping investment withdrawal rules in section 955 and to provide an incentive to reinvest foreign shipping earnings in the United States.

Introduced: November 19, 2008 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
Taxation Air cargoCommerceDividendsFinance and Financial Sector
More subjectsShow fewer subjects
Foreign Trade and International FinanceForeign corporationsIncome taxInvestmentsMerchant shipsStockholdersTax deductionsTax exclusionTaxation of foreign incomeTransportation and Public Works
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2008
Read twice and referred to the Committee on Finance.
Jul 29, 2008
Introduced in Senate
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 Latest action July 29, 2008

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

American Shipping Reinvestment Act of 2008 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders a tax deduction for dividends attributable to foreign base company shipping income received from a controlled foreign corporation.

 Related & companion bills 2
  • HR 7044 Related bill To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginnin…
  • HR 6374 Identical bill American Shipping Reinvestment Act of 2008
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Murray, Patty
Washington · Nov 19, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3359: American Shipping Reinvestment Act of 2008. 110th Congress. Open America. https://openamerica.io/bill/110-S-3359/
MLA
"S. 3359: American Shipping Reinvestment Act of 2008." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-3359/.
Bluebook (legal)
S. 3359, 110th Cong. (2026), https://openamerica.io/bill/110-S-3359/.
Markdown link
[S. 3359: American Shipping Reinvestment Act of 2008](https://openamerica.io/bill/110-S-3359/)
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