HR 1769 · 108th Congress 2003–2005, ended

Job Protection Act of 2003

Introduced Apr 11, 2003 Originated House Sponsor Philip M. Crane R-IL

Fact sheet

Latest action · Apr 12, 2003 Sponsor introductory remarks on measure. (CR E773-774)

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedApr 11, 2003
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Job Protection Act of 2003 - Amends the Internal Revenue Code to repeal the foreign sales corporation/extraterritorial income (FSC/ETI) exclusion, with an exemption for certain binding contracts in effect before the date of enactment of this Act.

Permits a foreign corporation that elected to be treated as a domestic corporation to revoke such election and be treated as a domestic corporation transferring its property to a foreign corporation with no gain recognized on such transfer.

Provides: (1) a transitional 2004 through 2008 sliding-scale deduction for an FSC/ETI beneficiary based on the corporation's 2001 FSC/ETI benefit; and (2) special rules for 2003 and for fiscal year taxpayers. Defines "FSC/ETI benefit."

Allows a deduction for income attributable to U.S. production activities equal to ten percent of qualified production activities. Provides a 2006 through 2009 phase-in period. Defines "qualified production activities" as: (1) the portion of the modified taxable income attributable to domestic activities; and (2) the domestic/foreign fraction.

Sets forth related provisions with respect to: (1) determination of income attributable to domestic production activities; (2) domestic production gross receipts; (3) qualifying production property; (4) domestic/foreign fraction; and (5) special rules.

Cosponsors 177

Members who signed on, in the order they did. Signatures ran from Apr 11, 2003 to Sep 29, 2004, with 9 there on the day it was introduced.

SeatCosponsorSigned on
D-NYCharles B. RangelOriginalApr 11, 2003
R-ILDonald A. ManzulloOriginalApr 11, 2003
D-WAJim McDermottOriginalApr 11, 2003
R-ILJohn ShimkusOriginalApr 11, 2003
R-GAMac CollinsOriginalApr 11, 2003
R-ILRay LaHoodOriginalApr 11, 2003
D-MARichard E. NealOriginalApr 11, 2003
D-CARobert T. MatsuiOriginalApr 11, 2003
D-MISander M. LevinOriginalApr 11, 2003
D-CAFortney Pete StarkMay 1, 2003
R-SCJim DeMintMay 1, 2003
R-COBob BeauprezMay 8, 2003
D-NCBob EtheridgeMay 8, 2003
D-WABrian BairdMay 8, 2003
R-IDC. L. (Butch) OtterMay 8, 2003
Show all 177 cosponsors

Actions 3

Everything that happened, newest first.

  1. Apr 12, 2003Sponsor introductory remarks on measure. (CR E773-774)
  2. Apr 11, 2003Introduced in House
  3. Apr 11, 2003Referred to the House Committee on Ways and Means.

Related bills 2

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HRES 534Providing for the consideration of the bill (H.R. 1769) to amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States.Procedurally relatedMar 9, 2004
S 970Job Protection Act of 2003Identical billMay 1, 2003

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.