S 396 · 110th Congress 2007–2009, ended

A bill to amend the Internal Revenue Code of 1986 to treat controlled foreign corporations in tax havens as domestic corporations.

Introduced Jan 25, 2007 Originated Senate Sponsor Byron L. Dorgan D-ND

Fact sheet

Latest action · Jan 29, 2007 Sponsor introductory remarks on measure. (CR S1265)

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. IntroducedJan 25, 2007
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Internal Revenue Code to treat certain controlled foreign corporations created or organized under the laws of a tax-haven country as domestic corporations for tax purposes. Sets forth a list of "tax-haven countries" and grants the Secretary of the Treasury authority to remove or add a country from such list.

Cosponsors 5

Members who signed on, in the order they did. Signatures ran from Jan 25, 2007 to Feb 26, 2008, with 2 there on the day it was introduced.

SeatCosponsorSigned on
D-MICarl LevinOriginalJan 25, 2007
D-WIRussell D. FeingoldOriginalJan 25, 2007
D-RISheldon WhitehouseJul 10, 2007
I-VTBernard SandersSep 27, 2007
D-VAJim WebbFeb 26, 2008

Actions 4

Everything that happened, newest first.

  1. Jan 29, 2007Sponsor introductory remarks on measure. (CR S1265)
  2. Jan 25, 2007Introduced in Senate
  3. Jan 25, 2007Read twice and referred to the Committee on Finance.
  4. Jan 25, 2007Sponsor introductory remarks on measure. (CR S1194-1195)

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. Jan 25, 2007Introduced in Senate

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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.