HR 772 · 108th Congress · Taxation

RAFT (Restore Access to Foreign Trade) Act of 2003

Introduced 2003-02-13· Sponsored by Rep. Weller, Jerry [R-IL-11]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2003-02-13)

Plain Language Summary

[AI summary unavailable — showing source text] RAFT (Restore Access to Foreign Trade) Act of 2003 - Amends the Internal Revenue Code to redefine the term "foreign base company shipping income" to include income derived from, or in connection with, the use of "any aircraft or petroleum vessel in foreign commerce....". (Currently, the term is defined to include income derived from, or in connection with, the use of "any aircraft or vessel in foreign commerce....".) Defines the term "petroleum vessel."…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Houghton, Amo [R-NY-29]NY