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- H.R.7749
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.
About This Bill
- Introduced July 23, 2020
- Latest Major Action July 23, 2020
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (All Republicans)
Bill Version
- Introduced in House - July 23, 2020
Bill Summary
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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 23, 2020 |
Referred to the House Committee on Ways and Means.
|
| July 23, 2020 |
Referred to the Subcommittee on Select Revenue Measures.
|
| July 23, 2020 |
Introduced in the House by Darin M. LaHood (R-Ill.) |