US Congress Senate Bill 561 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on March 14 2013 - 25% progression, died in committee
Action: 2013-03-14 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

Offshoring Prevention Act

Sen. Sheldon Whitehouse [D-RI]	Sen. Barbara Boxer [D-CA]	Sen. Richard Durbin [D-IL]	Sen. Tom Harkin [D-IA]
Sen. Tim Johnson [D-SD]	Sen. Patrick Leahy [D-VT]	Sen. Carl Levin [D-MI]

Date	Chamber	Action
2013-03-14	Senate	Read twice and referred to the Committee on Finance.

HB1086 (Same As) 2013-03-12 - Referred to the House Committee on Ways and Means.
SB277 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.
SB278 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/561/all-info
Text	https://www.congress.gov/113/bills/s561/BILLS-113s561is.pdf