- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on FinanceIntroducedMarch 14th, 2013
- senate Committees
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Offshoring Prevention Act
A bill to amend the Internal Revenue Code of 1986 to provide for the taxation of income controlled foreign corporations attributable to imported property.
Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.