S 2589 · 116th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.

Introduced 2019-09-26· Sponsored by Sen. Isakson, Johnny [R-GA]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2019-09-26)

Plain Language Summary

[AI summary unavailable — showing source text] This bill amends the Internal Revenue Code to limit the scope of downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.…

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