<?xml version="1.0" encoding="utf-8" standalone="no"?>
<billStatus>
  <version>3.0.0</version>
  <bill>
    <number>940</number>
    <updateDate>2023-01-11T19:45:37Z</updateDate>
    <updateDateIncludingText>2023-01-11T19:45:37Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2007-03-20</introducedDate>
    <congress>110</congress>
    <committees>
      <item>
        <systemCode>ssfi00</systemCode>
        <name>Finance Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
        <activities>
          <item>
            <name>Referred to</name>
            <date>2007-03-20T22:01:41Z</date>
          </item>
        </activities>
      </item>
    </committees>
    <relatedBills>
      <item>
        <title>To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.</title>
        <congress>110</congress>
        <number>1509</number>
        <type>HR</type>
        <latestAction>
          <actionDate>2007-03-13</actionDate>
          <text>Referred to the House Committee on Ways and Means.</text>
        </latestAction>
        <relationshipDetails>
          <item>
            <type>Identical bill</type>
            <identifiedBy>CRS</identifiedBy>
          </item>
        </relationshipDetails>
      </item>
    </relatedBills>
    <actions>
      <item>
        <actionDate>2007-03-20</actionDate>
        <committees>
          <item>
            <systemCode>ssfi00</systemCode>
            <name>Finance Committee</name>
          </item>
        </committees>
        <sourceSystem>
          <name>Senate</name>
        </sourceSystem>
        <text>Read twice and referred to the Committee on Finance.</text>
        <type>IntroReferral</type>
      </item>
      <item>
        <actionDate>2007-03-20</actionDate>
        <text>Sponsor introductory remarks on measure. (CR S3391)</text>
        <type>IntroReferral</type>
        <actionCode>B00100</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
        </sourceSystem>
      </item>
      <item>
        <actionDate>2007-03-20</actionDate>
        <text>Introduced in Senate</text>
        <type>IntroReferral</type>
        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
        </sourceSystem>
      </item>
    </actions>
    <sponsors>
      <item>
        <bioguideId>B000243</bioguideId>
        <fullName>Sen. Baucus, Max [D-MT]</fullName>
        <firstName>MAX</firstName>
        <lastName>BAUCUS</lastName>
        <party>D</party>
        <state>MT</state>
        <middleName>SIEBEN</middleName>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>H000338</bioguideId>
        <fullName>Sen. Hatch, Orrin G. [R-UT]</fullName>
        <firstName>ORRIN</firstName>
        <lastName>HATCH</lastName>
        <party>R</party>
        <state>UT</state>
        <middleName>GRANT</middleName>
        <sponsorshipDate>2007-03-20</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C000880</bioguideId>
        <fullName>Sen. Crapo, Mike [R-ID]</fullName>
        <firstName>Mike</firstName>
        <lastName>Crapo</lastName>
        <party>R</party>
        <state>ID</state>
        <sponsorshipDate>2007-03-20</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S000709</bioguideId>
        <fullName>Sen. Specter, Arlen [R-PA]</fullName>
        <firstName>ARLEN</firstName>
        <lastName>SPECTER</lastName>
        <party>R</party>
        <state>PA</state>
        <sponsorshipDate>2007-05-10</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S001142</bioguideId>
        <fullName>Sen. Smith, Gordon H. [R-OR]</fullName>
        <firstName>GORDON</firstName>
        <lastName>SMITH</lastName>
        <party>R</party>
        <state>OR</state>
        <middleName>H.</middleName>
        <sponsorshipDate>2007-05-22</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>R000361</bioguideId>
        <fullName>Sen. Rockefeller, John D., IV [D-WV]</fullName>
        <firstName>JAY</firstName>
        <lastName>ROCKEFELLER</lastName>
        <party>D</party>
        <state>WV</state>
        <sponsorshipDate>2007-06-05</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>L000447</bioguideId>
        <fullName>Sen. Lott, Trent [R-MS]</fullName>
        <firstName>CHESTER</firstName>
        <lastName>LOTT</lastName>
        <party>R</party>
        <state>MS</state>
        <middleName>TRENT</middleName>
        <sponsorshipDate>2007-06-22</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>R000307</bioguideId>
        <fullName>Sen. Roberts, Pat [R-KS]</fullName>
        <firstName>PAT</firstName>
        <lastName>ROBERTS</lastName>
        <party>R</party>
        <state>KS</state>
        <sponsorshipDate>2007-07-30</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>B001066</bioguideId>
        <fullName>Sen. Bunning, Jim [R-KY]</fullName>
        <firstName>JIM</firstName>
        <lastName>BUNNING</lastName>
        <party>R</party>
        <state>KY</state>
        <sponsorshipDate>2007-09-07</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S000148</bioguideId>
        <fullName>Sen. Schumer, Charles E. [D-NY]</fullName>
        <firstName>Charles</firstName>
        <lastName>Schumer</lastName>
        <party>D</party>
        <state>NY</state>
        <middleName>E.</middleName>
        <sponsorshipDate>2007-10-23</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>L000035</bioguideId>
        <fullName>Sen. Lincoln, Blanche L. [D-AR]</fullName>
        <firstName>BLANCHE</firstName>
        <lastName>LINCOLN</lastName>
        <party>D</party>
        <state>AR</state>
        <middleName>LAMBERT</middleName>
        <sponsorshipDate>2008-05-14</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>American investments</name>
        </item>
        <item>
          <name>Bank holding companies</name>
        </item>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Corporation taxes</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Financial services</name>
        </item>
        <item>
          <name>Foreign Trade and International Finance</name>
        </item>
        <item>
          <name>Foreign banks and banking</name>
        </item>
        <item>
          <name>Foreign corporations</name>
        </item>
        <item>
          <name>Holding companies</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Insurance</name>
        </item>
        <item>
          <name>Insurance companies</name>
        </item>
        <item>
          <name>Stockholders</name>
        </item>
        <item>
          <name>Tax deferral</name>
        </item>
        <item>
          <name>Tax exclusion</name>
        </item>
        <item>
          <name>Taxation of foreign income</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2007-03-20</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2007-04-02T15:03:49Z</updateDate>
        <text><![CDATA[ Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.]]></text>
      </summary>
    </summaries>
    <title>A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.</title>
    <titles>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.</title>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Display Title</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2007-03-20T04:00:00Z</date>
        <formats>
          <item>
            <url>https://www.govinfo.gov/content/pkg/BILLS-110s940is/xml/BILLS-110s940is.xml</url>
          </item>
        </formats>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2007-03-20</actionDate>
      <text>Read twice and referred to the Committee on Finance.</text>
    </latestAction>
  </bill>
  <dublinCore xmlns:dc="http://purl.org/dc/elements/1.1/">
    <dc:format>text/xml</dc:format>
    <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>
  </dublinCore>
</billStatus>
