S 57 · 112th Congress · Taxation
A bill to amend the Internal Revenue Code of 1986 to modify the application of the tonnage tax on certain vessels.
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S172)(2011-01-25)
Plain Language Summary
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Amends the Internal Revenue Code to modify the alternative tax on qualifying shipping activities to treat a corporation electing such tax as continuing to use a qualifying vessel in the U.S. foreign trade during any period of use in the U.S. domestic trade, thus eliminating the 30 day limitation on operating in U.S. domestic trade under current law.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (4)
4 Democrats