A bill to amend the Internal Revenue Code of 1986 to provide for the deduction of interest paid in certain situations where the debt is guaranteed by a related foreign person.
About This Bill
Committee
Latest Action · November 19, 2003
Read twice and referred to the Committee on Finance.
Amends the Internal Revenue Code to eliminate the limitation for the deduction of interest for interest payments on debt guaranteed by a foreign person as long as the taxpayer establishes that it could have borrowed the same amount of debt from an unrelated lender without a guarantee.
Revises the definition of disqualified interest.
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