,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #afji  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bb1 #bjai,mr4    
,van ,holl5 7= himself1 ,ms4 ,klobu*>1  
,ms4 ,duckwor?1 & ,mr4 ,:iteh\se7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,securities ,act (   
#aicd to require c\ntry-by-c\ntry       
report+4  #a4 ,%ort title ,?is ,act may 
be cit$ z ! ,disclosure ( ,tax ,hav5s & 
,(f%or+ ,act4  #b4 ,c\ntry-by-c\ntry    
report+  7a7 ,c\ntry-by-,c\ntry ,report+
 ,section #ac ( ! ,securities ,ex*ange  
,act ( #aicd 7#ae ,u4,s4,c4 #ghm7 is    
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7s7 ,disclosure ( f9ancial 
p]=mance on a ,c\ntry-by-,c\ntry basis  
7#a7 ,def9itions ,9 ?is subsection--    
7,a7 ! t]m con/itu5t entity means1 )    
respect to a cov]$ issu]1 any sep>ate   
bus9ess entity ( ! cov]$ issu]2  7,b7 ! 
t]m cov]$ issu] means an issu] :o-- 7i7 
is a memb] ( a mult9ational ent]prise   

gr\p2 &  7ii7 ! mult9ational ent]prise  
gr\p ( :i* ! issu] is a memb] has annual
 rev5ue = ! prec$+ cal5d> ye> ( n less  
?an an am\nt det]m9$ by ! ,commission to
 con=m to ,unit$ ,/ates or int]national 
/&>ds = c\ntry-by-c\ntry report+2 &     
7,c7 ! t]m tax jurisdiction-- 7i7 means 
a c\ntry or a jurisdiction t is n a     
c\ntry b t has fiscal autonomy2 &  7ii7 
includes a t]ritory or possession ( !   
,unit$ ,/ates t has fiscal autonomy4    
7#b7 ,disclosure  7,a7 ,9 g5]al ,ea*    
cov]$ issu] %all file a report ) !      
,commission t includes in=mation        
describ$ 9 subp>agraph 7,b71 & any o!r  
in=mation requir$ by ! ,commission1 )   
respect to ! report+ p]iod describ$ 9   
subp>agraph 7,c74  7,b7 ,in=mation      
requir$ ,! in=mation describ$ 9 ?is     
subp>agraph is z foll[s3 7i7 ,con/itu5t 
entity in=mation ,in=mation on !        
con/itu5t entity1 includ+ ! foll[+3 7,i7
 ,! complete legal "n ( ! con/itu5t     
entity4  7,,ii7 ,! tax jurisdiction1 if 
any1 9 :i* ! con/itu5t entity is resid5t

 = tax purposes4  7,,iii7 ,! tax        
jurisdiction 9 :i* ! con/itu5t entity is
 organiz$ or incorporat$ 7if diff]5t f !
 tax jurisdiction ( resid5ce74  7,,iv7  
,! tax id5tification numb]1 if any1 us$ 
= ! con/itu5t entity by ! tax           
adm9i/ration ( ! con/itu5t entity's tax 
jurisdiction ( resid5ce4  7,v7 ,! ma9   
bus9ess activity or activities ( !      
con/itu5t entity4  7ii7 ,tax            
jurisdiction ,in=mation on ea* tax      
jurisdiction 9 :i* "o or m con/itu5t    
entities is resid5t1 pres5t$ z an       
aggregat$ or consolidat$ =m ( !         
in=mation = ! con/itu5t entities resid5t
 9 ea* tax jurisdiction1 includ+ !      
foll[+3 7,i7 ,rev5ues g5]at$ f          
transactions ) o!r con/itu5t entities4  
7,,ii7 ,rev5ues n g5]at$ f transactions 
) o!r con/itu5t entities4  7,,iii7      
,pr(it or loss be=e income tax4  7,,iv7 
,total income tax paid on a ca% basis to
 all tax jurisdictions4  7,v7 ,total    
accru$ tax exp5se record$ on taxable    
pr(its or losses4  7,,vi7 ,/at$ capital4

  7,,vii7 ,total accumulat$ e>n+s4      
7,,viii7 ,total numb] ( employees on a  
full-"t equival5t basis4  7,,ix7 ,net   
book value ( tangible assets1 :i*1 =    
purposes ( ?is section1 does n include  
ca% or ca% equival5ts1 intangibles1 or  
f9ancial assets4  7iii7 ,special rules  
,! in=mation li/$ 9 clause 7ii7 %all be 
provid$1 9 aggregat$ or consolidat$ =m1 
= any con/itu5t entity or entities t h  
no tax jurisdiction ( resid5ce4 ,9      
addition1 if a con/itu5t entity is an   
own] ( a con/itu5t entity t does n h a  
jurisdiction ( tax resid5ce1 !n ! own]'s
 %>e ( su* entity's rev5ues & pr(its w  
be aggregat$ or consolidat$ ) !         
in=mation = ! own]'s tax jurisdiction ( 
resid5ce4  7,c7 ,report+ p]iod ,!       
report+ p]iod cov]$ by ?is p>agraph is !
 p]iod ( ! cov]$ entity's applicable    
f9ancial /atem5t prep>$ = ! #ab-mon?    
p]iod t ends ) or )9 ! taxable ye> ( !  
cov]$ issu]4 ,if ! cov]$ issu] does n   
prep>e an annual applicable f9ancial    
/atem5t1 !n ! report+ p]iod cov]$ by ?is

 p>agraph is ! #ab-mon? p]iod t ends on 
! la/ day ( ! taxable ye> ( ! cov]$     
issu]4  7,d7 ,fil+ deadl9e ,ea* cov]$   
issu] %all submit to ! ,commission a    
report requir$ "u ?is section on or be=e
 ! due date 7includ+ ext5sions7 = fil+ t
 cov]$ issu]'s tax return 9 ! tax       
jurisdiction 9 :i* ! cov]$ issu]'s      
mult9ational ent]prise gr\p is resid5t4 
7,e7 ,regulation ,! ,commission %all    
promulgate regulations c>ry+ out ?is    
section t con=m to ,unit$ ,/ates or     
int]national /&>ds = c\ntry-by-c\ntry   
report+1 includ+ regulations promulgat$ 
by ! ,int]nal ,rev5ue ,s]vice4  4  7b7  
,rulemak+  7#a7 ,deadl9es ,! ,securities
 & ,ex*ange ,commission 79 ?is section  
ref]r$ to z ! ,commission7 %all-- 7,a7 n
 lat] ?an #bgj days aft] ! date (       
enactm5t ( ?is ,act1 issue a propos$    
rule to c>ry out ?is section & ! am5dm5t
 made by ?is section2 &  7,b7 n lat] ?an
 #a ye> aft] ! date ( enactm5t ( ?is    
,act1 issue a f9al rule to c>ry out ?is 
section & ! am5dm5t made by ?is section4

  7#b7 ,data =mat ,! in=mation requir$  
to be provid$ by ?is section %all be    
provid$ by ! issu] 9 a report 9 a ma*9e 
readable =mat prescrib$ by !            
,commission1 & su* report %all be made  
available to ! public onl9e1 9 su* ma*9e
 readable =mat z ! ,commission %all     
prescribe4  7#c7 ,effective date        
,subsection 7s7 ( section #ac ( !       
,securities ,ex*ange ,act ( #aicd1 z    
add$ by ?is section1 %all become        
effective #a ye> aft] ! date on :i* !   
,commission issues a f9al rule "u ?is   
section4