Prescription Price Equity Act of 2000

Summary

Prescription Price Equity Act of 2000 - Amends the Internal Revenue Code to deny, to any taxpayer who is a member of a worldwide affiliated group with any disqualified gross receipts from any developed foreign country, the applicable percentage of the research-related tax benefits. Defines the term "disqualified gross receipts" to mean, with respect to any developed foreign country, gross receipts of the worldwide affiliated group from prescription drugs manufactured or produced by any member of such group and sold for use or consumption in such country if such gross receipts are at least five percent less than the amount which would be such gross receipts were such drugs sold at their respective average manufacturing prices charged by members of such group in the United States. Defines, in addition, the terms "developed foreign country," "applicable percentage," and "research-related tax benefits."

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Timeline

1. 26 April 2000

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 April 2000

   Introduced

   Sponsor introductory remarks on measure. (CR S2943-2944)

   Source: IntroReferral

3. 26 April 2000

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 April 2000 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 April 2000

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 April 2000

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 April 2000

  Open at official source

Sponsors

• Sen. Wellstone, Paul D. [D-MN] · D · Sponsor
• Sen. Feingold, Russell D. [D-WI] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Prescription Price Equity Act of 2000