Summary: H.R.2542 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.2542. Bill summaries are authored by CRS.

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Introduced in House (05/21/2009)

American Shipping Reinvestment Act of 2009 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders an election to deduct dividends attributable to foreign base company shipping income received from a controlled foreign corporation.