To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2021
Committee Review
Floor Vote
President
Introduced Mar 18, 2021
Last action Mar 18, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Mar 18, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Mar 18, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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