Bill116th CongressFiled Jul 23, 2020Taxation
H.R. 7749
To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary 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.
What just happenedJul 23, 2020
Referred to the Subcommittee on Select Revenue Measures.
Who’s behind it
Rep. LaHood, Darin [R-IL-18](R-IL)Sponsor
4 cosponsors4 R
4cosponsors1committees4actions2subjects
- Introduced in HouseJul 23, 2020
- Jul 23, 2020Committee
Referred to the Subcommittee on Select Revenue Measures.
Tax Subcommittee - Jul 23, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 23, 2020IntroReferralIntro-H
Introduced in House
- Jul 23, 2020IntroReferral1000
Introduced in House