II
109th CONGRESS
1st Session
S. 1159
IN THE SENATE OF THE UNITED STATES
May 26, 2005
Mr. Hatch (for himself, Mr. Baucus, Mr. Smith, Mr. Schumer, Mr. Crapo, Mr. Lott, Mr. Kyl, and Mrs. Lincoln) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing.
Permanent extension of subpart F exemption for active financing
In general
Section 954(h)(9) of
the Internal Revenue Code of 1986 is amended by striking and before
January 1, 2007,
.
Conforming amendments
Section 953(e)(10) of the Internal Revenue Code of 1986 is amended—
by striking and before January 1,
2007,
, and
by striking the second sentence thereof.