[Congressional Record (Bound Edition), Volume 154 (2008), Part 15]
[Senate]
[Page 20786]
[From the U.S. Government Publishing Office, www.gpo.gov]




 SENATE RESOLUTION 680--TO AUTHORIZE THE PRODUCTION OF RECORDS BY THE 
 PERMANENT SUBCOMMITTEE ON INVESTIGATIONS OF THE COMMITTEE ON HOMELAND 
                   SECURITY AND GOVERNMENTAL AFFAIRS

  Mr. REID (for himself and Mr. McConnell) submitted the following 
resolution; which was considered and agreed to:

                              S. Res. 680

       Whereas, the Permanent Subcommittee on Investigations of 
     the Committee on Homeland Security and Governmental Affairs 
     conducted an investigation into how financial institutions 
     have designed, marketed, and implemented transactions 
     intended to enable foreign taxpayers to avoid taxes on U.S. 
     stock dividends;
       Whereas, the Subcommittee has received requests from law 
     enforcement and regulatory agencies for access to records of 
     the Subcommittee's investigation;
       Whereas, by the privileges of the Senate of the United 
     States and Rule XI of the Standing Rules of the Senate, no 
     evidence under the control or in the possession of the Senate 
     can, by administrative or judicial process, be taken from 
     such control or possession but by permission of the Senate;
       Whereas, when it appears that evidence under the control or 
     in the possession of the Senate is needed for the promotion 
     of justice, the Senate will take such action as will promote 
     the ends of justice consistent with the privileges of the 
     Senate: Now, therefore, be it
       Resolved, That the Chairman and Ranking Minority Member of 
     the Permanent Subcommittee on Investigations of the Committee 
     on Homeland Security and Governmental Affairs, acting 
     jointly, are authorized to provide to law enforcement 
     officials, regulatory agencies, and other entities or 
     individuals duly authorized by federal, state, or foreign 
     governments, records of the Subcommittee's investigation into 
     how financial institutions have designed, marketed, and 
     implemented transactions intended to enable foreign taxpayers 
     to avoid taxes on U.S. stock dividends.

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