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S 626 112th Congress Senate

American Shipping Reinvestment Act of 2011

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: March 17, 2011 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
Taxation Aviation and airportsFinancial services and investmentsForeign and international corporationsIncome tax deductions
More subjectsShow fewer subjects
Income tax exclusionMarine and inland water transportationTaxation of foreign income
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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
Mar 17, 2011
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1839-1840)
Mar 17, 2011
Sponsor introductory remarks on measure. (CR S1838-1839)
Mar 17, 2011
Introduced in Senate
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 Latest action March 17, 2011

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1839-1840)

 Plain-English summary Congressional Research Service

American Shipping Reinvestment Act of 2011 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders an election to deduct dividends attributable to foreign base company shipping income received from a controlled foreign corporation.

 Related & companion bills 1
  • HR 1031 Identical bill American Shipping Reinvestment Act of 2011
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Murray, Patty
Washington · Mar 17, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 626: American Shipping Reinvestment Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-S-626/
MLA
"S. 626: American Shipping Reinvestment Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-626/.
Bluebook (legal)
S. 626, 112th Cong. (2026), https://openamerica.io/bill/112-S-626/.
Markdown link
[S. 626: American Shipping Reinvestment Act of 2011](https://openamerica.io/bill/112-S-626/)
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