H.R.1036 - Job Creation and Innovation Investment Act of 2011

To amend the Internal Revenue Code of 1986 to allow temporarily a reduced rate of tax with respect to repatriated foreign earnings. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to allow temporarily a reduced rate of tax with respect to repatriated foreign earnings. as introduced.
  • Short: Job Creation and Innovation Investment Act of 2011 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/11/11
 
 
 
 
 
 
 

Official Summary

Job Creation and Innovation Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the tax deduction for dividends received from a controlled foreign corporation, to: (1) eliminate limitations on the amount of such deduction, and (2) allow a 100% deduction for companies

Official Summary

Job Creation and Innovation Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the tax deduction for dividends received from a controlled foreign corporation, to:
(1) eliminate limitations on the amount of such deduction, and
(2) allow a 100% deduction for companies that reinvest such dividends in a qualified domestic reinvestment plan. Defines \"qualified domestic reinvestment plan\" as an approved plan for the reinvestment within three years after payment of such dividends in the United States for research and development expenses, expansion of facilities, proof of content centers, early stage venture capital investment, or manufacturing startup costs.

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