109 HR 4909 IH: Trade Sanction Avoidance Act of 2006 U.S. House of Representatives 2006-03-08 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.

I 109th CONGRESS 2d Session H. R. 4909 IN THE HOUSE OF REPRESENTATIVES March 8, 2006 Mr. Stark introduced the following bill; which was referred to the Committee on Ways and Means A BILL To repeal the transition and grandfather provisions relating to foreign sales corporations and extraterritorial income.

1.

Short title

This Act may be cited as the Trade Sanction Avoidance Act of 2006.

2.

Repeal of FSC–ETI transition and grandfather provisions

(a)

ETI provisions

Section 101 of the American Jobs Creation Act of 2004 is amended by striking subsections (d) and (f). (b)

FSC provisions

Section 5 of the FSC Repeal and Extraterritorial Income Exclusion Act of 2000 is amended by striking subsection (c). (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2005.