3.0.0 2550 2024-07-24T15:20:50Z 2024-07-24T15:20:50Z Senate S S 2023-07-26 118 ssfi00 Finance Committee Senate Standing Referred to 2023-07-26T23:18:32Z 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 W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N Taxation Taxation 2023-08-28T21:08:09Z 00 2023-07-26 Introduced in Senate 2023-10-05T18:04:00Z Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act

This bill denies certain large corporations (i.e., corporations with gross income exceeding $10 billion in the preceding taxable year) a tax deduction for certain payments relating to defamation law suits, including the applicable defamation suit payment, attorneys' fees, and insurance premiums. The bill defines applicable defamation suit payment as any payment that (1) is made in connection with a defamation suit for which proof of actual malice is required to succeed on the merits, (2) is paid pursuant to a settlement or court order, and (3) exceeds $500 million in the aggregate.

]]> Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act Display Title 45 Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act 2024-07-24T15:20:50Z Short Title(s) as Introduced 101 Denying Expenditures for False Accusations with Malicious Effect (DEFAME) 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 disallow deductions for certain payments relating to defamation suits. 2023-08-16T02:59:19Z Introduced in Senate IS Introduced in Senate 2023-07-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s2550is/xml/BILLS-118s2550is.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.