# 116-hr-7749: To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

116-hr-7749, To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders., is a 116th Congress bill sponsored by Rep. LaHood, Darin [R-IL-16] (R-IL); status Referred to the Subcommittee on Select Revenue Measures. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7749
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7749
- Congress: 116
- Title: To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
- Status: Referred to the Subcommittee on Select Revenue Measures.
- Introduced: 2020-07-23
- Sponsor: Rep. LaHood, Darin [R-IL-16] (R-IL)
- Cosponsors: 4
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## 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.

## Cosponsors (4)

- Rep. Ferguson, A. Drew, IV [R-GA-3] (R-GA), 2020-07-23T00:00:00.000Z
- Rep. Wittman, Robert J. [R-VA-1] (R-VA), 2020-07-30T00:00:00.000Z
- Rep. Wright, Ron [R-TX-6] (R-TX), 2020-08-21T00:00:00.000Z
- Rep. Hern, Kevin [R-OK-1] (R-OK), 2020-09-16T00:00:00.000Z

## Related bills

- 116-hr-7278: JUSTICE Act
- 116-hr-19: Lower Costs, More Cures Act of 2019
- 116-hr-4692: Countering Turkish Aggression Act of 2019
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-3495: Improve Well-Being for Veterans Act
- 116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act

## Sources
- [116-hr-7749 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7749)

## Related
- [116-hr-7278: JUSTICE Act](https://policyrisk.com/legislation/116-hr-7278)
- [116-hr-19: Lower Costs, More Cures Act of 2019](https://policyrisk.com/legislation/116-hr-19)
- [116-hr-4692: Countering Turkish Aggression Act of 2019](https://policyrisk.com/legislation/116-hr-4692)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-2423)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7749 (as of 2025-11-18).