3.0.0 970 2023-01-15T16:03:46Z 2023-01-15T16:03:46Z Senate S S 2003-05-01 108 ssfi00 Finance Committee Senate Standing Referred to 2003-05-01T19:30:36Z Job Protection Act of 2003 108 1769 HR 2003-04-12 Sponsor introductory remarks on measure. (CR E773-774) Identical bill CRS 2003-05-01 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5658-5660) IntroReferral 2003-05-01 Sponsor introductory remarks on measure. (CR S5657-5658) IntroReferral B00100 9 Library of Congress 2003-05-01 Introduced in Senate IntroReferral 10000 9 Library of Congress H000725 Sen. Hollings, Ernest F. [D-SC] ERNEST HOLLINGS D SC FREDERICK N F000061 Sen. Feingold, Russell D. [D-WI] RUSSELL FEINGOLD D WI D. 2003-06-05 False D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2003-06-20 False L000304 Sen. Lieberman, Joseph I. [D-CT] JOSEPH LIEBERMAN D CT I. 2003-06-26 False E000286 Sen. Edwards, John [D-NC] JOHN EDWARDS D NC 2003-07-09 False K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2003-07-09 False I000025 Sen. Inouye, Daniel K. [D-HI] DANIEL INOUYE D HI KEN 2003-07-14 False G000352 Sen. Graham, Bob [D-FL] DANIEL GRAHAM D FL ROBERT 2003-07-24 False C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2003-10-16 False Taxation Accounting Affiliated corporations Agricultural cooperatives Agriculture and Food Arts, Culture, Religion Commerce Computer software Corporation taxes Export subsidies Finance and Financial Sector Foreign Trade and International Finance Foreign corporations Income tax Manufacturing industries Minimum tax Motion pictures Partnerships Science, Technology, Communications Sound recording and reproducing Tax deductions Tax exclusion Taxation of foreign income Taxation 00 2003-05-01 Introduced in Senate 2006-11-28T17:35:40Z Permits a foreign corporation that elected to be treated as a domestic corporation to revoke such election and be treated as a domestic corporation transferring its property to a foreign corporation with no gain recognized on such transfer.

Provides: (1) a transitional 2004 through 2008 sliding-scale deduction for an FSC/ETI beneficiary based on the corporation's 2001 FSC/ETI benefit; and (2) special rules for 2003 and for fiscal year taxpayers. Defines "FSC/ETI benefit."

Allows a deduction for income attributable to U.S. production activities equal to ten percent of qualified production activities. Provides a 2006 through 2009 phase-in period. Defines "qualified production activities" as: (1) the portion of the modified taxable income attributable to domestic activities; and (2) the domestic/foreign fraction.

Sets forth related provisions with respect to: (1) determination of income attributable to domestic production activities; (2) domestic production gross receipts; (3) qualifying production property; (4) domestic/foreign fraction; and (5) special rules.]]>

Job Protection Act of 2003 Display Title Job Protection Act of 2003 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to preserve jobs and production activities in the United States. Introduced in Senate IS Short Titles as Introduced Job Protection Act of 2003 Introduced in Senate 2003-05-01T04:00:00Z 2003-05-01 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5658-5660) 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.