H.R. 767 (108th): Homeland Investment Act of 2003

Introduced:
Feb 13, 2003 (108th Congress, 2003–2004)
Sponsor:
Rep. Philip “Phil” English [R-PA3]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on February 13, 2003, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 13, 2003
Cosponsors
45 cosponsors (45R) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to encourage investing of foreign earnings within the United States for productive business purposes.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Feb 13, 2003.
7 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/13/2003--Introduced.
Homeland Investment 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 individual or corporate rates.
Limits foreign tax credits with respect to dividends taxed at such 5.25 percent rate.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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