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    <constitutionalAuthorityStatementText><![CDATA[<pre>[Congressional Record Volume 165, Number 156 (Thursday, September 26, 2019)][House]From the Congressional Record Online through the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]By Mr. LEWIS:H.R. 4509.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I of the United States Constitutionand its subsequent amendments, and further clarified andinterpreted by the Supreme Court of the United States.[Page H8055]</pre>]]></constitutionalAuthorityStatementText>
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        <title>A bill to amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.</title>
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        <fullName>Rep. Schneider, Bradley Scott [D-IL-10]</fullName>
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        <fullName>Rep. Ferguson, A. Drew, IV [R-GA-3]</fullName>
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        <fullName>Rep. McBath, Lucy [D-GA-6]</fullName>
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        <fullName>Rep. Murphy, Stephanie N. [D-FL-7]</fullName>
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        <updateDate>2019-10-15T13:55:15Z</updateDate>
        <text><![CDATA[ <p>This bill amends the Internal Revenue Code to limit the scope of downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.</p>]]></text>
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    <title>To amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.</title>
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        <title>To amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.</title>
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    <latestAction>
      <actionDate>2019-09-26</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
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    <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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