To amend the Internal Revenue Code of 1986 to provide tax treatment for foreign investment through a United States regulated investment company comparable to the tax treatment for direct foreign investment and investment through a foreign mutual fund.
Investment Competitiveness Act of 1995 - Amends the Internal Revenue Code to exempt interest-related dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with U.S. business. Provides exceptions.
Provides for determining: (1) taxable-interest dividends; and (2) taxable estate stock of nonresident non-citizens in regulated investment companies.
Applies the special rules for real estate investment trusts on the disposition of investment in U.S. real property to regulated investment companies.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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