S 57
112th Congress
Senate
Taxation
Income tax rates
Marine and inland water transportation
A bill to amend the Internal Revenue Code of 1986 to modify the application of the tonnage tax on certain vessels.
Introduced: January 25, 2011
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 25, 2011
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S172)
Jan 25, 2011
Sponsor introductory remarks on measure. (CR S171-172)
Jan 25, 2011
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 S172)
Committees of jurisdiction
1