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116-hr-7749116th Congress

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Sponsored By: Representative LaHood, Darin [R-IL-16]

Unknown

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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

LaHood, Darin [R-IL-16]

IL • R

Cosponsors

  • Rep. Ferguson, A. Drew, IV [R-GA-3]

    GA • R

    Sponsored 7/23/2020

  • Rep. Wittman, Robert J. [R-VA-1]

    VA • R

    Sponsored 7/30/2020

  • Rep. Wright, Ron [R-TX-6]

    TX • R

    Sponsored 8/21/2020

  • Rep. Hern, Kevin [R-OK-1]

    OK • R

    Sponsored 9/16/2020

Roll Call Votes

No roll call votes available for this bill.

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