H.R. 5240 · 116th Congress
To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign…
Full title
To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KindSponsor14 cosponsors · 6 D, 8 R
R
Estes
AF
R
Ferguson
BH
D
Higgins
GH
R
Holding
JL
D
Larson
DL
R
LaHood
GM
D
Moore
TS
D
Sewell
BS
D
Schneider
JS
R
Smith
TS
D
Suozzi
JW
R
Walorski
DS
R
Schweikert
JA
R
Arrington12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
What it does: CRS summary · Introduced in House · Nov 21, 2019
This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.
Latest action (Nov 21, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 21, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.