HR 767 · 108th Congress 2003–2005, ended

Homeland Investment Act of 2003

Introduced Feb 13, 2003 Originated House Sponsor Phil English R-PA

Latest action · Feb 13, 2003 Referred to the House Committee on Ways and Means.

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.

IntroducedFeb 13, 2003
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

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.

Cosponsors 45

Members who signed on, in the order they did. Signatures ran from Feb 13, 2003 to May 13, 2004; 3 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
R-CA	David Dreier	Original	Feb 13, 2003
R-WA	Jennifer Dunn	Original	Feb 13, 2003
R-TX	Kevin Brady	Original	Feb 13, 2003
R-TX	Lamar Smith		Feb 25, 2003
R-FL	Ginny Brown-Waite		Mar 11, 2003
R-AZ	Jim Kolbe		Mar 11, 2003
R-TX	John R. Carter		Mar 11, 2003
R-TX	Sam Johnson		Mar 11, 2003
R-CO	Scott McInnis		Mar 11, 2003
R-MN	Jim Ramstad		Mar 12, 2003
R-CT	Nancy L. Johnson		Mar 12, 2003
R-IL	Philip M. Crane		Mar 12, 2003
R-KY	Ron Lewis		Mar 12, 2003
R-VA	Eric Cantor		Mar 13, 2003
R-AZ	J. D. Hayworth		Mar 13, 2003
R-IN	Mike Pence		Mar 13, 2003
R-CA	Wally Herger		Mar 13, 2003
R-NY	Amo Houghton		Mar 20, 2003
R-IL	Jerry Weller		Mar 20, 2003
R-SC	Joe Wilson		Mar 27, 2003
R-TX	John Abney Culberson		Mar 27, 2003
R-NC	Walter B. Jones		Mar 27, 2003
R-ID	C. L. (Butch) Otter		Apr 1, 2003
R-CA	Doug Ose		Apr 1, 2003
R-FL	Tom Feeney		Apr 1, 2003
R-TN	William L. Jenkins		Apr 1, 2003
R-MI	Dave Camp		Apr 29, 2003
R-CA	John T. Doolittle		Apr 29, 2003
R-FL	Lincoln Diaz-Balart		Apr 29, 2003
R-CO	Marilyn N. Musgrave		Apr 29, 2003
R-FL	Mark Foley		Apr 29, 2003
R-NJ	Scott Garrett		Apr 29, 2003
R-MI	Vernon J. Ehlers		Apr 29, 2003
R-MN	Gil Gutknecht		May 9, 2003
R-NE	Lee Terry		May 9, 2003
R-WI	Mark Green		May 9, 2003
R-WI	Paul D. Ryan		May 9, 2003
R-IN	Steve Buyer		May 9, 2003
R-TX	Michael C. Burgess		Jun 5, 2003
R-NC	Richard Burr		Jun 24, 2003
R-ID	Michael K. Simpson		Jul 25, 2003
R-FL	E. Clay Shaw Jr.		Oct 15, 2003
R-PA	Tim Murphy		Apr 21, 2004
R-NJ	Mike Ferguson		May 5, 2004
R-NY	John M. McHugh		May 13, 2004

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Ways and Means Committee	Referred Feb 13, 2003

Actions 2

Everything that happened, newest first.

Feb 13, 2003Introduced in House
Feb 13, 2003Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Printed hearings 2

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

Number	Hearing	Committee	Held
Serial No. 108-22	UNITED STATES-CHINA ECONOMIC RELATIONS AND CHINA'S ROLE IN THE GLOBAL ECONOMY290 pages	Ways and Means Committee	Oct 30, 2003–Oct 31, 2003
Serial No. 108-19	PRESIDENT'S ECONOMIC GROWTH PROPOSALS343 pages	Ways and Means Committee	Mar 4, 2003–Mar 11, 2003

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To amend the Internal Revenue Code of 1986 to encourage investing of foreign earnings within the United States for productive business purposes.
Short Titles as Introduced: Homeland Investment Act of 2003

Subjects

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

Text 1

Each version as it was printed, newest first.

Feb 13, 2003Introduced in House

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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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.