Bringing Back American Jobs Through Intellectual Property Repatriation Act

This bill changes U.S. tax rules for U.S. shareholders (like domestic corporations) receiving intangible property (such as patents, copyrights, software, or trade secrets) from foreign subsidiaries. It treats the property's value as not exceeding its original cost for tax purposes, preventing immediate taxable gains when the property is transferred. This applies to distributions made after 2023 and covers broad categories of valuable intellectual property. The policy aims to simplify tax treatment for repatriated IP without creating new taxable events.