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house Bill H.R. 2542

American Shipping Reinvestment Act of 2009

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedMay 21st, 2009

Bill Details

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American Shipping Reinvestment Act of 2009

Official Title

To amend the Internal Revenue Code of 1986 to repeal the shipping investment withdrawal rules in section 955 and to provide an incentive to reinvest foreign shipping earnings in the United States.


American Shipping Reinvestment Act of 2009 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders an election to deduct dividends attributable to foreign base company shipping income received from a controlled foreign corporation.

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