US HB5240 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on November 21 2019 - 25% progression, died in committee
Action: 2019-11-21 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).

Tracking Information

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Title

To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.

Sponsors


History

DateChamberAction
2019-11-21HouseReferred to the House Committee on Ways and Means.
2019-11-21HouseIntroduced in House

Same As/Similar To

HB3301 (Similar To) 2020-01-21 - Placed on the Union Calendar, Calendar No. 300.

Subjects


US Congress State Sources


Bill Comments

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