Congress 107 - HR 1267 - Investment Competitiveness Act

Sponsor

Cosponsors

Topics

Aliens Business income tax Capital gains tax Commerce Dividends Estate tax Finance and Financial Sector Foreign corporations Foreign investments Foreign ownership of real property Foreign Trade and International Finance Immigration Income tax Interest Mutual funds Personal income tax Real estate investment Stockholders Stocks Tax exclusion Taxation Taxation of foreign income Withholding tax

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Summary

Investment Competitiveness Act - Amends the Internal Revenue Code to exempt interest-related dividends and short-term capital gain dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with a U.S. business, subject to exception.

Revises provisions concerning: (1) the estate tax treatment of stock in certain regulated investment companies owned by a nonresident; and (2) the distribution of U.S. property by a qualified investment entity (currently, a real estate investment trust).

Actions

Mar 28, 2001

Referred to the House Committee on Ways and Means.
Mar 28, 2001

Sponsor introductory remarks on measure. (CR E468-469)
Mar 28, 2001

Introduced in House

Amendments

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