I 

113TH CONGRESS 

1ST SESSION H. R. 2546 

To protect financial transactions in the United States from enforcement 

of certain excise taxes imposed by any foreign government, and for 

other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 27, 2013 

Mr. PRICE of Georgia (for himself, Mr. MARCHANT, Mr. SCHOCK, Mr. BOUSTANY, and Mr. TIBERI) introduced the following bill; which was referred 

to the Committee on Ways and Means, and in addition to the Committee 

on Foreign Affairs, for a period to be subsequently determined by the 

Speaker, in each case for consideration of such provisions as fall within 

the jurisdiction of the committee concerned 

A BILL 

To protect financial transactions in the United States from 

enforcement of certain excise taxes imposed by any foreign government, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Protect American In5 vestments Act of 2013’’. 


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1 SEC. 2. PROHIBITION ON THE UNITED STATES PERSONS 

2 PAYING FOREIGN FINANCIAL TRANSACTION 

3 TAX. 

4 (a) IN GENERAL.—A United States based company, 

5 entity, or person shall be prohibited from paying a finan6 cial transaction tax which is imposed by a foreign country 

7 on any covered financial transaction. 

8 (b) ACTIONS BY SECRETARY.—The Secretary of the 

9 Treasury— 

10 (1) not later than 90 days after the date of the 

11 enactment of this Act, shall promulgate such regula12 tions or other guidance, and 

13 (2) may take such other actions, 

14 as may be necessary or appropriate to carry out subsection 

15 (a). 

16 SEC. 3. PROHIBITION ON UNITED STATES ASSISTANCE IN 

17 COLLECTING CERTAIN TAXES, ETC. 

18 The Secretary of the Treasury may not assist any 

19 foreign government with respect to the collection of any 

20 excise tax, related penalty, or related judgment by a court 

21 of a foreign country or by a foreign government on any 

22 covered financial transaction. 


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1 SEC. 4. PROTECTION OF FINANCIAL TRANSACTIONS IN THE 

2 UNITED STATES FROM ENFORCEMENT OF EX3 CISE TAX IMPOSED BY FRANCE. 

4 The Secretary of the Treasury shall apply paragraph 

5 4 of Article 29 of the Convention Between the Government 

6 of the United States of America and the Government of 

7 the French Republic for the Avoidance of Double Taxation 

8 and the Prevention of Fiscal Evasion With Respect to 

9 Taxes on Income and Capital, entered into force on or 

10 after January 1, 1996, to exempt covered financial trans11 actions. 

12 SEC. 5. DEFINITIONS. 

13 For purposes of this Act— 

14 (1) COVERED FINANCIAL TRANSACTION.—The 

15 term ‘‘covered financial transaction’’ means a finan16 cial transaction occurring on a United States ex17 change or over the counter within the United States, 

18 notwithstanding the nationality of the issuer of such 

19 security or the residence of any party to the trans20 action. 

21 (2) SECRETARY OF THE TREASURY.—The term 

22 ‘‘Secretary of the Treasury’’ includes any delegate of 

23 the Secretary. 

Æ 


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