To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.
Permanent Active Financing Exception Act of 2014 - Amends the Internal Revenue Code to make permanent the subpart F foreign personal holding company income exemption for income that is derived in the active conduct of a banking, financing, or similar business, as a securities dealer, or in the conduct of an insurance business.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 287.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 14.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-427.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-427.
Placed on the Union Calendar, Calendar No. 315.
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