PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 5, 1997
Amends the Internal Revenue Code to revise provisions determining the effectively connected net investment income of foreign companies carrying on insurance business in the United States. Requires such companies to recompute their effectively connected net investment income for taxable years beginning after December 31, 1996. Provides for increases (or decreases, as appropriate) in such income where the recomputed amount exceeds (or is less than) the income for the recomputed year. Requires payment (or receipt) of interest on the underpayment (or overpayment) of adjusted amounts.
People & committees
Sen. Abraham, Spencer [R-MI] · R–MI
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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