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United States · Bill · S

S. 1070 (108th)

World Trade Center Zone Tax Incentive Act

referredUnited States· United States Congress· EN

Introduced

15 May 2003

Last action

15 May 2003 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Schumer, Charles E. [D-NY]

Subjects

Taxation

Source updated

18 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

World Trade Center Zone Tax Incentive Act - Amends the Internal Revenue Code to state that if there is a qualified headquarters relocation of an eligible foreign corporation, any qualified headquarters activities of the corporation conducted in the New York Liberty Zone shall be treated as conducted outside the United States for purposes of determining: (1) the amount of any tax or withholding tax; or (2) whether the corporation has a permanent establishment within the United States for purposes of any applicable income tax treaty between the United States and any foreign country. Sets forth "qualified headquarters relocation" criteria with respect to transfers of employees and headquarters activities. Provides for termination and recapture of tax benefits for failure to meet such requirements. Defines "expanded affiliated group" for purposes of this Act.

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

Timeline

  1. 15 May 2003

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 15 May 2003

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 15 May 2003

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 15 May 2003

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 15 May 2003

    Open at official source

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Sponsors

Related records

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Sources

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