United States · Bill · S
S. 1159 (109th)
A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing.
Introduced
26 May 2005
Last action
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Status
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6055)
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
Summary
Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 26 May 2005
Introduced in Senate (PDF)
Introduced in Senate · EN · 26 May 2005
Introduced in Senate
summary · EN · 26 May 2005
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/109th-congress/senate-bill/1159
- Open data entity: https://api.congress.gov/v3/bill/109/s/1159