3.0.0 1975 2023-01-15T09:03:27Z 2023-01-15T09:03:27Z Senate S S 2003-11-25 108 ssfi00 Finance Committee Senate Standing Referred to 2003-11-25T21:05:23Z 2003-11-25 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-11-25 Sponsor introductory remarks on measure. (CR S16023-16024) IntroReferral B00100 9 Library of Congress 2003-11-25 Introduced in Senate IntroReferral 10000 9 Library of Congress D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN N M000303 Sen. McCain, John [R-AZ] JOHN MCCAIN R AZ SIDNEY 2003-11-25 True Taxation Compensation for victims of crime Crime and Law Enforcement Economics and Public Finance Fines (Penalties) Government trust funds Income tax Securities fraud Tax deductions Taxation 00 2003-11-25 Introduced in Senate 2004-02-12T22:18:49Z Amends the Internal Revenue code to prohibit the deduction of any fine or similar penalty paid to a government for the violation of any law.

Sets forth a special rule prohibiting the deduction of securities-related fines and penalties. Appropriates to Securities and Exchange Commission amounts determined to be equivalent to the increases in Federal revenues by reason of such fines and penalties and requires the Commission to transfer such amounts to any disgorgement fund for the benefit of the victims of the violations which resulted in such securities-related fines and penalties.

]]> A bill to amend the Internal Revenue Code of 1986 to deny a deduction for securities-related fines, penalties, and other amounts, and to provide that revenues resulting from such denial be transferred to Fair Funds for the relief of victims. Display Title A bill to amend the Internal Revenue Code of 1986 to deny a deduction for securities-related fines, penalties, and other amounts, and to provide that revenues resulting from such denial be transferred to Fair Funds for the relief of victims. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to deny a deduction for securities-related fines, penalties, and other amounts, and to provide that revenues resulting from such denial be transferred to Fair Funds for the relief of victims. Introduced in Senate IS Introduced in Senate 2003-11-25T05:00:00Z 2003-11-25 Read twice and referred to the Committee on Finance. text/xml EN 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. Congressional Research Service, Library of Congress 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.