3.0.0 2518 2024-07-24T15:20:50Z 2024-07-24T15:20:50Z Senate S S 2023-07-26 118 ssfi00 Finance Committee Senate Standing Referred to 2023-07-26T19:39:58Z 2023-07-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2023-07-26 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2023-09-14 False Taxation Taxation 2023-08-25T16:15:20Z 00 2023-07-26 Introduced in Senate 2023-09-15T14:37:29Z Ending Tax Breaks for Massive Sovereign Wealth Funds Act

This bill denies a tax exemption for income from investments of a non-exempt foreign government. The bill defines non-exempt foreign government as any foreign government that holds, directly or indirectly, more than $100 billion in assets for investment or for the production of income, and either does not have a free trade agreement or treaty in effect with the United States, or is a foreign government of a covered nation (i.e., Russia, China, North Korea, or Iran).

The Department of the Treasury must publish a list of non-exempt foreign government for purposes of this bill.

]]> Ending Tax Breaks for Massive Sovereign Wealth Funds Act Display Title 45 Ending Tax Breaks for Massive Sovereign Wealth Funds Act 2024-07-24T15:20:50Z Short Title(s) as Introduced 101 Ending Tax Breaks for Massive Sovereign Wealth Funds Act 2024-05-24T13:37:29Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Internal Revenue Code of 1986 to make investment income of certain foreign governments subject to tax. 2023-08-16T02:59:17Z Introduced in Senate IS Introduced in Senate 2023-07-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s2518is/xml/BILLS-118s2518is.xml 2023-07-26 Read twice and referred to the Committee on Finance. 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.