3.0.0 6616 2019-11-15T21:46:58Z 2019-11-15T21:46:58Z House H HR 2012-11-29 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. PRICE of Georgia:H.R. 6616.Congress has the power to enact this legislation pursuantto the following:This bill makes changes to existing law relating to Article1, Section 8 which provides that, ``The Congress shall havePower To lay and collect Taxes, Duties, Imposts, and Excises,to pay the debts and provide for the common Defense andgeneral Welfare of the United States; but all Duties,Imposts, and Excises shall be uniform throughout the UnitedStates.'' The Secretary of the Treasury is responsible forthe collection of any tax at the federal level. It is purviewof the Congress to determine which taxes the Secretary shallor shall not collect. Clarifying direction to the Secretaryin regards to a foreign financial transaction tax will easethe administrative and compliance burden on the privatefinancial sector and the federal government.[Page H6535]]]> hsfa00 Foreign Affairs Committee House Standing Referred to 2012-11-29T15:01:10Z hswm00 Ways and Means Committee House Standing Referred to 2012-11-29T15:01:05Z 2012-11-29 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsfa00 Foreign Affairs Committee 2012-11-29 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-11-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-11-29 Introduced in House IntroReferral 1000 9 Library of Congress P000591 Rep. Price, Tom [R-GA-6] Tom Price R GA 6 N B001255 Rep. Boustany, Charles W., Jr. [R-LA-7] Charles Boustany R LA W. 7 2012-12-03 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2012-12-03 False B001273 Rep. Black, Diane [R-TN-6] Diane Black R TN 6 2012-12-03 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2012-12-05 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2012-12-12 False S001179 Rep. Schock, Aaron [R-IL-18] Aaron Schock R IL 18 2012-12-18 False Finance and Financial Sector Europe Financial services and investments France International law and treaties Sales and excise taxes Securities Tax administration and collection, taxpayers Finance and Financial Sector 00 2012-11-29 Introduced in House 2013-01-04T21:50:46Z Prohibits the Secretary of the Treasury from assisting any foreign government with respect to the collection of any excise tax, related penalty, or related foreign judgment on securities transactions occurring on a U.S. exchange or over the counter within the United States, regardless of the nationality of the issuer of such security, the residence of any party to the transaction, or any existing tax treaty provision to the contrary (including Article 28 of the United States Tax Treaty With France).

Directs the Secretary, pursuant to Article 29 of such Treaty, to exempt transactions occuring in the United States which are: (1) on a U.S. stock exchange, (2) between U.S. individuals, or (3) with U.S. financial services firms or branches of foreign firms operating in the United States.

]]> To protect securities transactions in the United States from enforcement of certain excise taxes imposed by any foreign government, and for other purposes. Official Title as Introduced To protect securities transactions in the United States from enforcement of certain excise taxes imposed by any foreign government, and for other purposes. Display Title To protect securities transactions in the United States from enforcement of certain excise taxes imposed by any foreign government, and for other purposes. Introduced in House 2012-11-29T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr6616ih/xml/BILLS-112hr6616ih.xml 2012-11-29 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.