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    <number>1669</number>
    <updateDate>2023-01-15T23:18:07Z</updateDate>
    <updateDateIncludingText>2023-01-15T23:18:07Z</updateDateIncludingText>
    <originChamber>House</originChamber>
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    <type>HR</type>
    <introducedDate>2003-04-08</introducedDate>
    <congress>108</congress>
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            <date>2003-04-08T14:31:20Z</date>
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        <actionDate>2003-04-08</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
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        <text>Introduced in House</text>
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        <actionDate>2003-04-08</actionDate>
        <text>Introduced in House</text>
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    <sponsors>
      <item>
        <bioguideId>C000873</bioguideId>
        <fullName>Rep. Crane, Philip M. [R-IL-8]</fullName>
        <firstName>PHILIP</firstName>
        <lastName>CRANE</lastName>
        <party>R</party>
        <state>IL</state>
        <middleName>M.</middleName>
        <district>8</district>
        <isByRequest>N</isByRequest>
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    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>R000033</bioguideId>
        <fullName>Rep. Ramstad, Jim [R-MN-3]</fullName>
        <firstName>JIM</firstName>
        <lastName>RAMSTAD</lastName>
        <party>R</party>
        <state>MN</state>
        <district>3</district>
        <sponsorshipDate>2003-04-08</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>D000549</bioguideId>
        <fullName>Rep. Dunn, Jennifer [R-WA-8]</fullName>
        <firstName>JENNIFER</firstName>
        <lastName>DUNN</lastName>
        <party>R</party>
        <state>WA</state>
        <district>8</district>
        <sponsorshipDate>2003-04-08</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S001143</bioguideId>
        <fullName>Rep. Souder, Mark E. [R-IN-3]</fullName>
        <firstName>MARK</firstName>
        <lastName>SOUDER</lastName>
        <party>R</party>
        <state>IN</state>
        <middleName>EDWARD</middleName>
        <district>3</district>
        <sponsorshipDate>2003-04-08</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Taxation</name>
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    <subjects>
      <legislativeSubjects>
        <item>
          <name>Alien property</name>
        </item>
        <item>
          <name>Aliens</name>
        </item>
        <item>
          <name>Capital gains tax</name>
        </item>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Dividends</name>
        </item>
        <item>
          <name>Estate tax</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Foreign Trade and International Finance</name>
        </item>
        <item>
          <name>Foreign corporations</name>
        </item>
        <item>
          <name>Foreign investments</name>
        </item>
        <item>
          <name>Immigration</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Interest</name>
        </item>
        <item>
          <name>Mutual funds</name>
        </item>
        <item>
          <name>Real estate investment</name>
        </item>
        <item>
          <name>Stockholders</name>
        </item>
        <item>
          <name>Stocks</name>
        </item>
        <item>
          <name>Tax exclusion</name>
        </item>
        <item>
          <name>Taxation of foreign income</name>
        </item>
        <item>
          <name>Withholding tax</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2003-04-08</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2006-11-28T17:35:40Z</updateDate>
        <text><![CDATA[Investment Competitiveness Act - Amends the Internal Revenue Code to exempt interest-related dividends and short-term capital gain dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with a U.S. business, subject to exception.<p>Revises provisions concerning: (1) the estate tax treatment of stock in certain regulated investment companies owned by a nonresident; and (2) the distribution of U.S. property by a qualified investment entity (currently, a real estate investment trust).]]></text>
      </summary>
    </summaries>
    <title>Investment Competitiveness Act</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <title>Investment Competitiveness Act</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to provide tax treatment for foreign investment through a United States regulated investment company comparable to the tax treatment for direct foreign investment and investment through a foreign mutual fund.</title>
        <billTextVersionName>Introduced in House</billTextVersionName>
        <billTextVersionCode>IH</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Investment Competitiveness Act</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in House</type>
        <date>2003-04-08T04:00:00Z</date>
        <formats/>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2003-04-08</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
    </latestAction>
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    <dc:language>EN</dc:language>
    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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