H.R.309 - Guam Foreign Investment Equity Act107th Congress (2001-2002)
|Sponsor:||Rep. Underwood, Robert A. [D-GU-At Large] (Introduced 01/30/2001)|
|Committees:||House - Resources | Senate - Energy and Natural Resources|
|Committee Reports:||H. Rept. 107-48; S. Rept. 107-173|
|Latest Action:||08/21/2002 Became Public Law No: 107-212. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.309 — 107th Congress (2001-2002)All Information (Except Text)
Guam Foreign Investment Equity Act - Amends the Organic Act of Guam to apply, with an exception for rebated taxes to a Guam payor, Internal Revenue Code tax rates (respecting nonresident aliens, foreign corporations not connected with U.S. business, branch profits, foreign tax-exempt organizations, withholding on nonresident aliens, on foreign corporations, on dispositions of U.S. real property interests, and on partners' share of effectively connected income) to income from sources in Guam as if Guam were treated as part of the United States for treaty purposes.
Reported to House without amendment (04/24/2001)
Defines "Guam payor" as the person from whom the income item would be deemed to be received for purposes of claiming treaty rights were Guam treated as part of the United States.