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    <number>384</number>
    <updateDate>2023-01-15T22:18:44Z</updateDate>
    <updateDateIncludingText>2023-01-15T22:18:44Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2003-02-12</introducedDate>
    <congress>108</congress>
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        <name>Finance Committee</name>
        <chamber>Senate</chamber>
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            <name>Referred to</name>
            <date>2003-02-13T04:22:37Z</date>
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    <relatedBills>
      <item>
        <title>Corporate Patriot Enforcement Act of 2003</title>
        <congress>108</congress>
        <number>737</number>
        <type>HR</type>
        <latestAction>
          <actionDate>2003-02-12</actionDate>
          <text>Referred to the House Committee on Ways and Means.</text>
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            <identifiedBy>CRS</identifiedBy>
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        <actionDate>2003-02-12</actionDate>
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            <name>Finance Committee</name>
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        <text>Read twice and referred to the Committee on Finance.</text>
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      <item>
        <actionDate>2003-02-12</actionDate>
        <text>Introduced in Senate</text>
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        <actionCode>10000</actionCode>
        <sourceSystem>
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          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>R000146</bioguideId>
        <fullName>Sen. Reid, Harry [D-NV]</fullName>
        <firstName>HARRY</firstName>
        <lastName>REID</lastName>
        <party>D</party>
        <state>NV</state>
        <middleName>M.</middleName>
        <isByRequest>N</isByRequest>
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    <cosponsors>
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        <bioguideId>L000261</bioguideId>
        <fullName>Sen. Levin, Carl [D-MI]</fullName>
        <firstName>CARL</firstName>
        <lastName>LEVIN</lastName>
        <party>D</party>
        <state>MI</state>
        <middleName>MILTON</middleName>
        <sponsorshipDate>2003-02-12</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>D000563</bioguideId>
        <fullName>Sen. Durbin, Richard J. [D-IL]</fullName>
        <firstName>Richard</firstName>
        <lastName>Durbin</lastName>
        <party>D</party>
        <state>IL</state>
        <middleName>J.</middleName>
        <sponsorshipDate>2003-02-12</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>K000105</bioguideId>
        <fullName>Sen. Kennedy, Edward M. [D-MA]</fullName>
        <firstName>EDWARD</firstName>
        <lastName>KENNEDY</lastName>
        <party>D</party>
        <state>MA</state>
        <middleName>MOORE</middleName>
        <sponsorshipDate>2003-02-12</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>F000061</bioguideId>
        <fullName>Sen. Feingold, Russell D. [D-WI]</fullName>
        <firstName>RUSSELL</firstName>
        <lastName>FEINGOLD</lastName>
        <party>D</party>
        <state>WI</state>
        <middleName>D.</middleName>
        <sponsorshipDate>2003-03-25</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>F000062</bioguideId>
        <fullName>Sen. Feinstein, Dianne [D-CA]</fullName>
        <firstName>Dianne</firstName>
        <lastName>Feinstein</lastName>
        <party>D</party>
        <state>CA</state>
        <sponsorshipDate>2003-03-25</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C001041</bioguideId>
        <fullName>Sen. Clinton, Hillary Rodham [D-NY]</fullName>
        <firstName>HILLARY</firstName>
        <lastName>CLINTON</lastName>
        <party>D</party>
        <state>NY</state>
        <middleName>R</middleName>
        <sponsorshipDate>2003-04-11</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>M000702</bioguideId>
        <fullName>Sen. Mikulski, Barbara A. [D-MD]</fullName>
        <firstName>BARBARA</firstName>
        <lastName>MIKULSKI</lastName>
        <party>D</party>
        <state>MD</state>
        <middleName>ANN</middleName>
        <sponsorshipDate>2003-04-28</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>K000148</bioguideId>
        <fullName>Sen. Kerry, John F. [D-MA]</fullName>
        <firstName>JOHN</firstName>
        <lastName>KERRY</lastName>
        <party>D</party>
        <state>MA</state>
        <middleName>FORBES</middleName>
        <sponsorshipDate>2003-04-28</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>J000177</bioguideId>
        <fullName>Sen. Johnson, Tim [D-SD]</fullName>
        <firstName>TIM</firstName>
        <lastName>JOHNSON</lastName>
        <party>D</party>
        <state>SD</state>
        <sponsorshipDate>2003-05-06</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>W000779</bioguideId>
        <fullName>Sen. Wyden, Ron [D-OR]</fullName>
        <firstName>Ron</firstName>
        <lastName>Wyden</lastName>
        <party>D</party>
        <state>OR</state>
        <sponsorshipDate>2003-06-05</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>D000388</bioguideId>
        <fullName>Sen. Dodd, Christopher J. [D-CT]</fullName>
        <firstName>CHRISTOPHER</firstName>
        <lastName>DODD</lastName>
        <party>D</party>
        <state>CT</state>
        <middleName>JOHN</middleName>
        <sponsorshipDate>2004-01-20</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Corporate mergers</name>
        </item>
        <item>
          <name>Corporation taxes</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>Income tax</name>
        </item>
        <item>
          <name>Partnerships</name>
        </item>
        <item>
          <name>Stock exchanges</name>
        </item>
        <item>
          <name>Stockholders</name>
        </item>
        <item>
          <name>Tax evasion</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2003-02-12</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2006-11-28T17:35:40Z</updateDate>
        <text><![CDATA[Corporate Patriot Enforcement Act of 2003 - Amends the Internal Revenue Code by determining that acquiring corporations in"corporate expatriation transactions" shall be considered domestic corporations. Defines a "corporate expatriation transaction" as, with certain exceptions, one in which a "nominally foreign corporation" acquires substantially all of the properties held by a domestic corporation and in which, immediately after the transaction, more than 80 percent of the stock of the acquiring corporation is held by former shareholders of the domestic corporation. Lowers the 80 percent threshold to 50 percent when the acquiring "nominally foreign corporation" lacks substantial business activities in the foreign country in which it was created and organized compared to the total activities of the "expanded affiliated group" and the stock is publicly traded, with the principal market of trading being the United States. Defines the terms "nominally foreign corporation" and "expanded affiliated group."<p>Applies similar rules to partnership transactions.<p>Establishes that a series of related transactions relevant to the Act shall be handled as a single transaction.]]></text>
      </summary>
    </summaries>
    <title>Corporate Patriot Enforcement Act of 2003</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <title>Corporate Patriot Enforcement Act of 2003</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to prevent corporate expatriation to avoid United States income taxes.</title>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Corporate Patriot Enforcement Act of 2003</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2003-02-12T05:00:00Z</date>
        <formats/>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2003-02-12</actionDate>
      <text>Read twice and referred to the Committee on Finance.</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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