To amend the Internal Revenue Code of 1986 to exclude certain amounts from the tested income of controlled foreign corporations, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires income of certain qualified possession corporations excluded from tested income Section 951A of the Internal Revenue Code of 1986 is amended— in subsection (c)(2)(A)(i), by striking and at the end of subclause. It relies on definition changes, tax rate changes, compliance mandates, and exemptions. The main policy areas are Business and Finance.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Requires income of certain qualified possession corporations excluded from tested income Section 951A of the Internal Revenue Code of 1986 is amended— in subsection (c)(2)(A)(i), by striking and at the end of subclause...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires income of certain qualified possession corporations excluded from tested income Section 951A of the Internal Revenue Code of 1986 is amended— in subsection (c)(2)(A)(i), by striking and at the end of subclause.
Key Policy Areas
Business, Finance
Primary Purpose
The bill requires income of certain qualified possession corporations excluded from tested income Section 951A of the Internal Revenue Code of 1986 is amended— in subsection (c)(2)(A)(i), by striking and at the end of subclause.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Businesses and employers affected by the bill
Sponsors
Legislative Progress
IntroducedMs. Plaskett (for herself and Ms. Velázquez) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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