To amend the Internal Revenue Code of 1986 to deny the benefits of certain export subsidies in the case of exports of certain unprocessed timber.

Summary

Amends the Internal Revenue Code to provide that export property eligible for certain tax incentives does not include any unprocessed softwood timber for purposes of: (1) taxation of foreign sales corporations (FSCs); and (2) taxation of domestic international sales corporations (DISCs). Requires any income from the sale of such unprocessed timber which was cut from an area in the United States to be sourced in the United States. Excludes such income from rules under which: (1) gains, profits, and income involving inventory property purchased in the United States but sold or exchanged elsewhere may be sourced foreign; and (2) income derived from the manufacture of products in the United States and their sale elsewhere may be treated as having a divided source. Repeals the deferral for income of the controlled foreign corporation from sales or milling (outside the United States) of unprocessed softwood timber to the extent that any controlled foreign corporation is owned by ten percent or more U.S. shareholders.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 March 1993

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 30 March 1993

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 March 1993

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 March 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 March 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 March 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 30 March 1993

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Stark, Fortney Pete [D-CA-13] · D · Sponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• Rep. Unsoeld, Jolene [D-WA-3] · D · Sponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. Barcia, James A. [D-MI-5] · D · Cosponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Cosponsor
• Sen. Sanders, Bernard [I-VT] · I · Cosponsor
• Rep. Morella, Constance A. [R-MD-8] · R · Cosponsor
• Rep. McDermott, Jim [D-WA-7] · D · Cosponsor
• Rep. Kanjorski, Paul E. [D-PA-11] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1986 to deny the benefits of certain export subsidies in the case of exports of certain unprocessed timber.