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United States · Bill · S

S. 596 (108th)

Invest in the U.S.A. Act of 2003

openUnited States· United States Congress· EN

Introduced

11 March 2003

Last action

30 March 2004 · Introduced

Status

Sponsor introductory remarks on measure. (CR S3321)

Sponsors

Sen. Ensign, John [R-NV], Sen. Boxer, Barbara [D-CA], Sen. Smith, Gordon H. [R-OR], Sen. Allen, George [R-VA], Sen. Enzi, Michael B. [R-WY], Sen. Bayh, Evan [D-IN], Sen. Santorum, Rick [R-PA], Sen. Cochran, Thad [R-MS], Sen. Cornyn, John [R-TX], Sen. Wyden, Ron [D-OR], Sen. Bunning, Jim [R-KY], Sen. Crapo, Mike [R-ID], Sen. Kyl, Jon [R-AZ], Sen. Coleman, Norm [R-MN], Sen. Lincoln, Blanche L. [D-AR], Sen. Warner, John [R-VA], Sen. Bond, Christopher S. [R-MO], Sen. Talent, Jim [R-MO], Sen. Bennett, Robert F. [R-UT], Sen. Chambliss, Saxby [R-GA], Sen. Cantwell, Maria [D-WA], Sen. Brownback, Sam [R-KS], Sen. Domenici, Pete V. [R-NM], Sen. Miller, Zell [D-GA], Sen. Murray, Patty [D-WA], Sen. Craig, Larry E. [R-ID], Sen. Allard, Wayne [R-CO], Sen. Stabenow, Debbie [D-MI], Sen. DeWine, Mike [R-OH], Sen. Corzine, Jon S. [D-NJ], Sen. Graham, Lindsey [R-SC], Sen. Sessions, Jeff [R-AL], Sen. Chafee, Lincoln [R-RI], Sen. Alexander, Lamar [R-TN]

Subjects

Taxation

Source updated

18 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Invest in the U.S.A. Act of 2003 - Amends the Internal Revenue Code to permit a U.S. corporation doing business abroad to elect to have its foreign earnings taxed in the United States for one year at a rate equal to 5.25 percent of the excess qualified foreign distribution and the amount attributable to such corporation as controlled foreign-earned dividends in lieu of being taxed under alternative minimum tax or corporate rates, if dividends received are reinvested in the United States in an approved plan. Limits foreign tax credits with respect to dividends taxed at such 5.25 percent rate.

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

Timeline

  1. 11 March 2003

    Introduced

    Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3519-3520)

    Source: IntroReferral

  2. 11 March 2003

    Introduced

    Sponsor introductory remarks on measure. (CR S3519)

    Source: IntroReferral

  3. 11 March 2003

    Introduced

    Introduced in Senate

    Source: IntroReferral

  4. 18 March 2003

    Floor

    Star Print ordered on the bill.

    Source: Floor

  5. 30 March 2004

    Introduced

    Sponsor introductory remarks on measure. (CR S3321)

    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 · 11 March 2003

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 11 March 2003

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 11 March 2003

    Open at official source

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Sponsors

Related records

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Sources

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