US SB2589 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 26 2019 - 25% progression, died in committee
Action: 2019-09-26 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amends the Internal Revenue Code to limit the scope of downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.

Tracking Information

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Title

A bill to amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.

Sponsors


History

DateChamberAction
2019-09-26SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB4509 (Same As) 2019-09-26 - Referred to the House Committee on Ways and Means.
SB3548 (Related) 2020-06-03 - Committee on Small Business and Entrepreneurship. Hearings held.

Subjects


US Congress State Sources


Bill Comments

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