Investment Competitiveness Act of 1996

Summary

Investment Competitiveness Act of 1996 - Amends the Internal Revenue Code to exempt interest-related dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with U.S. business. Provides exceptions. Provides for determining: (1) taxable-interest dividends; and (2) taxable estate stock of nonresident non-citizens in regulated investment companies. Applies the special rules for real estate investment trusts on the disposition of investment in U.S. real property to regulated investment companies.

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Timeline

1. 10 July 1996

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 10 July 1996

   Introduced

   Sponsor introductory remarks on measure. (CR S7674-7675)

   Source: IntroReferral

3. 10 July 1996

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 10 July 1996 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 July 1996

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 July 1996

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 10 July 1996

  Open at official source

Sponsors

• Rep. Baucus, Max [D-MT-1] · D · Sponsor
• Sen. Gorton, Slade [R-WA] · R · Sponsor
• Patty Murray · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Investment Competitiveness Act of 1995