H.R. 7749 · 116th Congress
To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled…
Full title
To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
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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.
R
LaHoodSponsor4 cosponsors · 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.
What it does: CRS summary · Introduced in House · Jul 23, 2020
This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.
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 encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
Latest action (Jul 23, 2020): Referred to the Subcommittee on Select Revenue Measures.
Policy area: Taxation · Origin: House · Introduced: Jul 23, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.