Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2003

[AI summary unavailable — showing source text] Investor Protection, Market Stabilization, and Tax Fairness Restoration Act of 2002 (sic) - Amends the Internal Revenue Code to allow a tax credit for a taxpayer other than a corporation in an amount equal to the shareholder credits determined with respect to dividends received from domestic corporations. Sets a maximum amount for the credit. Prohibits the allotting of credit in certain instances to nonresident aliens. Provides criteria for calculating a shareholder credit for a dividend. Classifies any shareholder credit determined under this Act as a tax paid by the relevant corporation. Includes a taxpayer's shareholder credits in gross income. Permits a corporation to deduct 100 percent of the amount received as dividends from a domestic corporation (presently the Code allows a deduction of 70 percent or 100 percent, depending on the type of dividend). Increases, from 70 to 100 percent, the amount a corporation is allowed to deduct with respect to dividends on certain preferred stock.…