RAFT (Restore Access to Foreign Trade) Act of 2003
Last action on Feb 13, 2003Referred to the House Committee on Ways and Means.
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Summary
RAFT (Restore Access to Foreign Trade) Act of 2003 - Amends the Internal Revenue Code to redefine the term "foreign base company shipping income" to include income derived from, or in connection with, the use of "any aircraft or petroleum vessel in foreign commerce....". (Currently, the term is defined to include income derived from, or in connection with, the use of "any aircraft or vessel in foreign commerce....".) Defines the term "petroleum vessel."
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