Job Protection Act of 2003

Summary

Job Protection Act of 2003 - Amends the Internal Revenue Code to repeal the foreign sales corporation/extraterritorial income (FSC/ETI) exclusion, with an exemption for certain binding contracts in effect before the date of enactment of this Act. Permits a foreign corporation that elected to be treated as a domestic corporation to revoke such election and be treated as a domestic corporation transferring its property to a foreign corporation with no gain recognized on such transfer. Provides: (1) a transitional 2004 through 2008 sliding-scale deduction for an FSC/ETI beneficiary based on the corporation's 2001 FSC/ETI benefit; and (2) special rules for 2003 and for fiscal year taxpayers. Defines "FSC/ETI benefit." Allows a deduction for income attributable to U.S. production activities equal to ten percent of qualified production activities. Provides a 2006 through 2009 phase-in period. Defines "qualified production activities" as: (1) the portion of the modified taxable income attributable to domestic activities; and (2) the domestic/foreign fraction. Sets forth related provisions with respect to: (1) determination of income attributable to domestic production activities; (2) domestic production gross receipts; (3) qualifying production property; (4) domestic/foreign fraction; and (5) special rules.

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Timeline

1. 11 April 2003

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 11 April 2003

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 April 2003

   Introduced

   Introduced in House

   Source: IntroReferral

4. 12 April 2003

   Introduced

   Sponsor introductory remarks on measure. (CR E773-774)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 11 April 2003 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 April 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 April 2003

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 11 April 2003

  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. Crane, Philip M. [R-IL-8] · R · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Collins, Mac [R-GA-3] · R · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. LaHood, Ray [R-IL-18] · R · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Shimkus, John [R-IL-15] · R · Sponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Sponsor
• Sen. DeMint, Jim [R-SC] · R · Cosponsor
• Rep. Stark, Fortney Pete [D-CA-13] · D · Cosponsor
• Rep. Simmons, Rob [R-CT-2] · R · Cosponsor
• Rep. Baker, Richard H. [R-LA-6] · R · Cosponsor
• Rep. Feeney, Tom [R-FL-24] · R · Cosponsor
• Rep. Pomeroy, Earl [D-ND-At Large] · D · Cosponsor
• Rep. Inslee, Jay [D-WA-1] · D · Cosponsor
• Rep. Jones, Stephanie Tubbs [D-OH-11] · D · Cosponsor
• Rep. Bell, Chris [D-TX-25] · D · Cosponsor
• Rep. Nethercutt, George R., Jr. [R-WA-5] · R · Cosponsor
• Rep. Hart, Melissa A. [R-PA-4] · R · Cosponsor
• Rep. Hastings, Doc [R-WA-4] · R · Cosponsor
• Rep. Dicks, Norman D. [D-WA-6] · D · Cosponsor
• Rep. McNulty, Michael R. [D-NY-23] · D · Cosponsor
• Rep. Tauscher, Ellen O. [D-CA-10] · D · Cosponsor
• Rep. Hooley, Darlene [D-OR-5] · D · Cosponsor
• Rep. Kleczka, Gerald D. [D-WI-4] · D · Cosponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Cosponsor
• Rep. Franks, Trent [R-AZ-8] · R · Cosponsor
• Rep. Meek, Kendrick B. [D-FL-17] · D · Cosponsor
• Rep. Spratt, John M., Jr. [D-SC-5] · D · Cosponsor
• Rep. Baird, Brian [D-WA-3] · D · Cosponsor
• Rep. Ryan, Tim [D-OH-13] · D · Cosponsor
• Rep. Aderholt, Robert B. [R-AL-4] · R · Cosponsor
• Rep. Michaud, Michael H. [D-ME-2] · D · Cosponsor
• Rep. LaTourette, Steven C. [R-OH-14] · R · Cosponsor
• Rep. Beauprez, Bob [R-CO-7] · R · Cosponsor
• Rep. Johnson, Timothy V. [R-IL-15] · R · Cosponsor
• Rep. Otter, C. L. (Butch) [R-ID-1] · R · Cosponsor
• Rep. Baca, Joe [D-CA-43] · D · Cosponsor
• Sen. Toomey, Patrick [R-PA] · R · Cosponsor
• Rep. Bartlett, Roscoe G. [R-MD-6] · R · Cosponsor
• Rep. Biggert, Judy [R-IL-13] · R · Cosponsor
• Rep. Goode, Virgil H., Jr. [R-VA-5] · R · Cosponsor
• Rep. King, Steve [R-IA-4] · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor

Showing 48 of 179 sponsors and actors.

Related records

• related to → Providing for the consideration of the bill (H.R. 1769) to amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States.
• related to ← Job Protection Act of 2003