lcalvobartolome/proxann_data huggingface dataset:
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2013-06-27 00:00:00

Protect American Investments Act of 2013 - Prohibits a U.S.-based company, entity, or person from paying a financial transaction tax imposed by a foreign country on any covered financial transaction. Defines "covered financial transaction" as a financial transaction occurring on a U.S. exchange or over-the-counter within the United States, notwithstanding the nationality of the issuer of such security or the residence of any party to the transaction.

Requires the Secretary of the Treasury to: (1) promulgate regulations or other guidance to carry out this Act; (2) not assist any foreign government in collecting any excise tax, related penalty, or related judgment on any covered financial transaction; and (3) apply provisions of the Convention Between the United States of America and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income and Capital to exempt covered financial transactions.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2013-08-01 00:00:00

Amends the Internal Revenue Code to treat United States cruise industry income as effectively connected with the conduct of a trade or business within the United States (thus subjecting such income to U.S. income taxation). Defines "United States cruise industry income" as income attributable to a voyage of a commercial passenger cruise vessel (a passenger vessel having berth or stateroom accommodations for at least 250 passengers) that extends over 1 or more nights and during which passengers embark or disembark the vessel in the United States. Prohibits any tax exemption or reduced tax rate under any U.S. treaty with respect to United States cruise industry income.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2013-09-19 00:00:00

Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement.

Amends the Internal Revenue Code to:

 expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes; require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts; treat swap payments sent offshore as taxable U.S. source income; and impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, gross revenues, payments made to governments, and other financial information; and (2) impose a fine for failure to disclose any holdings or transactions involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements.

Makes investment advisers and persons engaged in forming new business entities subject to anti-money laundering requirements.

Imposes new restrictions on U.S. corporations and other entities with foreign income with respect to: (1) tax deductions allocable to deferred foreign income, (2) the recalculation of foreign income taxes, (3) intangible property transferred overseas, (4) tax evasion activities by U.S. corporations reincorporating in a foreign country, and (5) loans to U.S. shareholders from controlled foreign corporations.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2014-07-29 00:00:00

Keeping Jobs in America Act - Directs the Secretary of Commerce to establish a program to award grants to states that are recruiting high-value jobs (e.g., manufacturing, software publishing, and computer system design jobs that pay a higher than average wage). Allows the use of grants to issue forgivable loans to entities that employ not fewer than 50 full-time employees in high-value jobs and that are deciding whether to locate in rural and distressed areas.

Amends the Internal Revenue Code to: (1) grant business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and  relocating it within the United States, and (2) deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. Requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses.

Extends through 2017 the additional allowance for depreciation of business property (bonus depreciation) and the election to accelerate the alternative minimum tax credit in lieu of bonus depreciation. Makes permanent: (1) the increased $500,000 expensing allowance for depreciable business property and qualified real property, and (2) the new markets tax credit.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-01-13 00:00:00

Stop Tax Haven Abuse Act

Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement.

Amends the Internal Revenue Code to:

 expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes; require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts; treat swap payments sent offshore as taxable U.S. source income; and impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission to report annually, on a country-by country basis, on employees, gross revenues, payments made to governments, and other financial information; and (2) impose a fine for failure to disclose any holdings or transactions involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements.

Makes investment advisers and persons engaged in forming new business entities subject to anti-money laundering requirements.

Imposes new restrictions on U.S. corporations and other entities with foreign income with respect to: (1) tax deductions allocable to deferred foreign income, (2) the recalculation of foreign income taxes, (3) intangible property transferred overseas, (4) tax evasion activities by U.S. corporations reincorporating in a foreign country, and (5) the interest expense tax deduction of certain subsidiaries of foreign corporations with excess domestic indebtedness.

Modifies rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-01-13 00:00:00

Offshoring Prevention Act

 Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-01-30 00:00:00

Infrastructure 2.0 Act

Amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profit subject to taxation in the last taxable year that ends before the enactment of this Act; (2) reduce the rate of tax on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow such corporations to elect to pay such tax in eight installments.

Establishes the American Infrastructure Fund to provide assistance to states, local governments, and other public and private entities for investment in public infrastructure projects.

Appropriates tax revenues from this Act to the Highway Trust Fund.

Establishes the Highway Trust Fund Solvency Commission to submit recommendations and proposed legislation for achieving long-term solvency of the Highway Trust Fund. Sets forth congressional procedures for the expedited consideration of a bill containing such legislation.

Directs the Secretary of Transportation to establish a regional infrastructure accelerator pilot program to assist public entities in developing infrastructure projects.

Establishes a deadline of 18 months after the enactment of this Act for the enactment of legislation that reforms the international tax system by eliminating the incentive to hold earnings in low-tax jurisdictions. Imposes a tax on repatriated offshore corporate earnings upon the expiration of the deadline.

Sets forth provisions for the reform of the international tax system (to be effective if reform legislation is not enacted by the 18-month deadline established by this Act), including provisions relating to subpart F income and insurance income, gains and losses from the sale or exchange of stock in controlled foreign corporations, limitations on the foreign tax credit, and the tax treatment of previously deferred foreign income.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-02-12 00:00:00

Permanent Active Financing Exception Act of 2015

(Sec. 2) This bill amends the Internal Revenue Code to make permanent the subpart F foreign personal holding company income exemption for income that is derived in the active conduct of a banking, financing, or similar business, as a securities dealer, or in the conduct of an insurance business.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-03-18 00:00:00

Permanent CFC Look-Through Act of 2015

(Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-04-14 00:00:00

Corporate Tax Dodging Prevention Act 

 Amends the Internal Revenue Code, with respect to the taxation of the foreign-source income of domestic corporations, to:

 eliminate the deferral of tax on the foreign-source income of U.S. corporations for taxable years beginning after December 31, 2015; deny the foreign tax credit to large integrated oil companies that are dual capacity taxpayers; limit the offset of the foreign tax credit to income that is subject to U.S. tax; treat foreign corporations managed and controlled in the United States as domestic corporations for U.S. tax purposes; limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (i.e., a group that prepares consolidated financial statements according to generally accepted accounting principles or international financial reporting standards); and revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition it holds more than 50% of the stock of the new entity (expanded affiliated group).
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-04-29 00:00:00

Amends the Internal Revenue Code, with respect to the tax on nonresident alien individuals, to: (1) make permanent the tax exemption for interest-related dividends and short-term capital gain dividends received from a regulated investment company, and (2) expand the categories of interest-related dividends for which a tax exemption is allowed.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-04-30 00:00:00

Real Estate Investment and Jobs Act of 2015

This bill amends the Internal Revenue Code to increase from 5% to 10% the stock ownership threshold in a real estate investment trust for purposes of exempting proceeds from dispositions of such stock from withholding requirements under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). Exempts from FIRPTA withholding requirements U.S. real property interests held by: (1) a qualified foreign pension fund created or organized outside the United States, or (2) any entity all of the interests of which are held by a qualified foreign pension fund.
Topic: Foreign Trade — Private Investments
Subject: Law
Date: 2015-07-29 00:00:00

Foreign Manufacturers Legal Accountability Act of 2015

 Expresses the sense of Congress with respect to jurisdiction of courts in the United States over foreign manufacturers that import products into the United States.

Directs the Food and Drug Administration (FDA) (with respect to drugs, devices, cosmetics, and biological products), the Consumer Product Safety Commission (with respect to consumer products), and the Environmental Protection Agency (with respect to chemical substances, new chemical substances, and pesticides) to require foreign manufacturers and producers of such products (or components used to manufacture them), in excess of a minimum value or quantity, to establish a registered agent in the United States authorized to accept service of process on their behalf for the purpose of any state or federal regulatory proceeding or civil action in state or federal court.

Deems a foreign manufacturer or producer of products covered under this Act that registers an agent to consent to the personal jurisdiction of the state or federal courts of the state in which the agent is located for the purpose of any civil or regulatory proceeding.

Requires any person who imports into the United States a covered product manufactured or produced outside the United States to provide to the U.S. Customs and Border Protection (CBP) a declaration that to the best of the person's knowledge, with respect to the importation of each covered product, the foreign manufacturer or producer of the product has registered an agent in the United States. Directs the CBP Commissioner to prescribe related regulations.

Subjects an importer who fails to provide or files a false declaration to certain penalties. Requires the Department of Agriculture and the FDA jointly to study the feasibility and advisability of requiring foreign producers of food distributed in commerce to establish a registered agent in the United States who is authorized to accept service of process on behalf of such producers for the purpose of all civil and regulatory actions in state and federal courts.

Requires the head of each agency cited in this Act similarly to study feasible and advisable methods of requiring foreign manufacturers or producers of component parts of covered products distributed in U.S. commerce to establish registered agents in the United States for purposes of such service of process.
Topic: Foreign Trade — Private Investments
Subject: Transportation and public works
Date: 2015-07-29 00:00:00

Aviation Screening Contractor Reform and Accountability Act 

This bill prohibits subsidiaries of foreign-owned companies from performing security screening at commercial airports and establishes additional requirements for private screening companies.

The Transportation Security Administration (TSA) must not:

 contract with private screening companies that are U.S. subsidiaries of foreign companies or have compromised covert security testing, permit the screening to be performed by a subcontractor, or provide funding to any company that provides screening services at an airport in excess of the required amount. Private screening companies must:

 provide the right of first refusal to federal or private sector employees who are performing screening at an airport when a contract is awarded; and report to the TSA regarding security breaches, retention rates of employees, adverse employment actions, and customer complaints. The TSA must use Government Accountability Office (GAO) guidance to compare the costs of overseeing private companies with using federal employees for screening, enhance monitoring of the performance of private screening companies, and require companies to train employees on handling sensitive information.

Each airport must notify passengers if screening is conducted by a contractor and provide contact information for reporting complaints.

The GAO must conduct annual covert testing of airports that use private screening companies.

The TSA must establish a process for confidentially reporting deficiencies, waste, or vulnerabilities with respect to private screening services. The companies must not retaliate against individuals who report this information, refuse to engage in illegal activities, or testify during government proceedings.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-10-22 00:00:00

Stop Outsourcing and Create American Jobs Act of 2015 

This bill directs the Department of the Treasury to develop and publish a list of countries that are tax havens for corporations.

The bill amends the Internal Revenue Code to increase the penalties on corporations for: (1) underpayment of tax involving an undisclosed foreign financial asset located in a tax haven country; (2) reportable transaction understatements involving transactions in a tax haven country; and (3) fraud, tax evasion, or false statements involving transactions in a tax haven country.

The bill: (1) grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing, and (2) defines "outsourcing" as the laying off of a U.S. worker from a job and the hiring or contracting for the same job to be performed in a foreign country.

Revenues generated by this Act must be set aside for the reduction of the public debt.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-11-05 00:00:00

Putting America First Corporate Tax Act 

This bill amends the Internal Revenue Code to modify the definition of subpart F income (i.e., income of a controlled foreign corporation earned outside the United States that is not tax-deferred) to include income of a controlled foreign corporation derived from any foreign country. This modification is applicable to taxable years beginning after December 31, 2015.
Topic: Foreign Trade — Private Investments
Subject: Taxation
Date: 2015-12-18 00:00:00

This bill expressly prohibits the Department of the Treasury from collecting from a U.S. person or transmitting to any foreign jurisdiction any country-by-country report (CbCR) information of any U.S. person for taxable years beginning before January 1, 2017. CbCR information is used by the Organization for Economic Cooperation and Development to develop its Base Erosion and Profit Shifting (BEPS) Action Plan to increase the transparency of transfer pricing practices and other tax transactions of multinational business enterprises.

Treasury must: (1) suspend the transmittal of CbCR information of any U.S. person to a foreign jurisdiction if it determines that such jurisdiction is abusing BEPS master file documentation requirements or failing to safeguard the confidentiality of information required in the master file, and (2) report to the congressional tax committees on allegations or reports received concerning the abuse of master file documentation requirements and any actions taken with respect to such allegations.