PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Sep 26, 2001
Economic Revitalization Tax Act of 2001 - Amends Internal Revenue Code provisions concerning investment of earnings in U.S. property to set forth a separate rule governing any foreign corporation which is a controlled foreign corporation and is created or organized under the laws of the Commonwealth of Puerto Rico or a possession of the United States.Provides that in the case of certain dividends received by a domestic corporation from such a corporation, there shall be allowed as a deduction an amount equal to 85 percent of such dividend.Establishes a safe harbor rule for certain transfers or licenses of intangible property to such a corporation.
People & committees
Sen. Breaux, John B. [D-LA] · D–LA
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S9881-9882)
Introduced in Senate
Primary sources
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Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.
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Analyze S.1475 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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