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HR 507 111th Congress House Taxation Employee hiring Foreign and international corporations Income tax deductions Interest, dividends, interest rates Taxation of foreign income

To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009.

Introduced: January 14, 2009 See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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
Jan 14, 2009
Referred to the House Committee on Ways and Means.
Jan 14, 2009
Introduced in House
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 Plain-English summary Congressional Research Service

Amends Internal Revenue Code provisions relating to the tax deduction for dividends received by a U.S. corporation from a controlled foreign corporation to: (1) extend the applicability of such provisions to taxable years beginning after FY2008; and (2) reduce such deduction for corporations that do not maintain certain employment levels.

What's happening now January 14, 2009

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
McCaul, Michael T.
Texas · Feb 10, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 507: To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009.. 111th Congress. Open America. https://openamerica.io/bill/111-HR-507/
MLA
"H.R. 507: To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009.." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-507/.
Bluebook (legal)
H.R. 507, 111th Cong. (2026), https://openamerica.io/bill/111-HR-507/.
Markdown link
[H.R. 507: To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009.](https://openamerica.io/bill/111-HR-507/)
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