Offshoring Prevention Act

Summary

Offshoring Prevention Act This bill amends the Internal Revenue Code to include imported property income in foreign base company income, for purposes of determining the income of controlled foreign corporations. The bill defines "imported property income" as, with certain exceptions, income derived in connection with: manufacturing, producing, growing, or extracting imported property; the sale, exchange, or other disposition of imported property; or the lease, rental, or licensing of imported property. The bill also provides for a separate application of limitations on the foreign tax credit for imported property income.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 April 2017

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 April 2017

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• Introduced in Senate

  summary · EN · 6 April 2017

  Open at official source

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