PlainBillCongress, translated.Legislation. Context. Public interest.Became Public Law No: 106-519.
Congressional Research Service
Version 00 · Introduced in House · Jul 27, 2000
FSC Repeal and Extraterritorial Income Exclusion Act of 2000 - Amends the Internal Revenue Code to repeal subpart C (Taxation of Foreign Sales Corporations) of part III (Income From Sources Without the United States) of subchapter N ( Tax Based on Income From Sources Within or Without the United States) of chapter 1 (Normal Taxes and Surtaxes).Excludes from gross income "extraterritorial income," except that extraterritorial income which is not qualifying "qualifying foreign trade income" shall not be excluded from gross income.Defines "extraterritorial income" as gross income of the taxpayer attributable to "foreign trading gross receipts" of the taxpayer.Defines "qualifying foreign trade income," with respect to any transaction, as the amount of gross income which, if excluded, will result in a reduction of the taxable income of the taxpayer from such transaction equal to the greatest of: (1) 30 percent of the foreign sale and leasing income derived by the taxpayer from such transaction; (2) 1.2 percent of the foreign trading gross receipts derived by the taxpayer from the transaction; or (3) 15 percent of the foreign trade income derived by the taxpayer from the transaction. Prohibits in any event the amount determined under clause (2) from exceeding 200 percent of the amount determined under clause (3). Permits an alternative computation.Defines "foreign trading gross receipts" as the gross receipts of the taxpayer which are: (1) from the sale, exchange, or other disposition of qualifying foreign trade property; (2) from the lease or rental of qualifying foreign trade property for use by the lessee outside the United States; (3) for services which are related and subsidiary to either any sale, exchange, or other disposition of qualifying foreign trade property by such taxpayer, or any lease or rental of qualifying foreign trade property described in clause (2) by such taxpayer; (4) for engineering or architectural services for construction projects located (or proposed for location) outside the United States; or (5) for the performance of managerial services for a person other than a related person in furtherance of the production of foreign trading gross receipts described in clause (1), (2), or (3). Prohibits clause (5) from applying to a taxpayer for any taxable year unless at least 50 percent of its foreign trading gross receipts (determined without regard to this sentence) for such taxable year is derived from activities described in clause (1), (2), or (3). Excludes specified receipts from the definition.Sets forth additional definitions and rules.
People & committees
Rep. Archer, Bill [R-TX-7] · R–TX
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Became Public Law No: 106-519.
Became Public Law No: 106-519.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 316 - 72, 1 Present (Roll no. 597). (consideration: CR H11900-11901; text as House agreed to Senate amendment: CR H11881-11884)
House roll call 597 · Individual votesResolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 316 - 72, 1 Present (Roll no. 597).(consideration: CR H11900-11901; text as House agreed to Senate amendment: CR H11881-11884)
House roll call 597 · Individual votesAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on the motion.
Mr. Archer moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H11881-11899)
Message on Senate action sent to the House.
Passed Senate with an amendment by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Committee amendments withdrawn by Unanimous Consent.
Measure laid before Senate by unanimous consent. (consideration: CR S11450-11457; text of measure as reported in Senate: CR S11451-11454)
Placed on Senate Legislative Calendar under General Orders. Calendar No. 817.
Committee on Finance. Reported by Senator Roth with amendments. With written report No. 106-416.
Committee on Finance. Reported by Senator Roth with amendments. With written report No. 106-416.
Committee on Finance. Ordered to be reported with an amendment in the nature of a substitute favorably.
Received in the Senate and Read twice and referred to the Committee on Finance.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by recorded vote (2/3 required): 315 - 109, 1 Present (Roll no. 467). (text: CR 9/12/2000 H7416-7419)
House roll call 467 · Individual votesPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by recorded vote (2/3 required): 315 - 109, 1 Present (Roll no. 467).(text: CR 9/12/2000 H7416-7419)
House roll call 467 · Individual votesConsidered as unfinished business. (consideration: CR H7521)
Placed on the Union Calendar, Calendar No. 500.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-845.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-845.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed until Sept. 13.
DEBATE - The House proceeded with forty minutes of debate on H.R. 4986.
Considered under suspension of the rules. (consideration: CR H7416-7431)
Mr. Archer moved to suspend the rules and pass the bill, as amended.
Referred to the House Committee on Ways and Means.
Ordered to be Reported by the Yeas and Nays: 34 - 1.
Committee Consideration and Mark-up Session Held.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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