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HR 749 112th Congress House

To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

Introduced: February 16, 2011 See on congress.gov
Taxation Financial services and investmentsForeign and international bankingForeign and international corporationsIncome tax exclusion
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Insurance industry and regulationTaxation of foreign income
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 2011
Referred to the House Committee on Ways and Means.
Feb 16, 2011
Introduced in House
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 Latest action February 16, 2011

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 17
All 17 Democratic 3 Republican 1
D
Thompson, Mike
California · Dec 27, 2012
Rokita, Todd
· Aug 1, 2012
Paulsen, Erik
· Mar 20, 2012
 R
Smith, Adrian
Nebraska · Mar 20, 2012
Black, Diane
· Mar 1, 2012
Davis, Geoff
· Nov 18, 2011
Marchant, Kenny
· Nov 4, 2011
Reed, Tom
· Nov 4, 2011
Nunes, Devin
· Oct 27, 2011
Roskam, Peter
· Apr 8, 2011
BERKLEY, SHELLEY
· Mar 9, 2011
HERGER, WALLY
· Mar 9, 2011
BRADY, KEVIN
· Feb 16, 2011
CROWLEY, JOSEPH
· Feb 16, 2011
JOHNSON, SAM
· Feb 16, 2011
 D
Larson, John B.
Connecticut · Feb 16, 2011
 D
Neal, Richard E.
Massachusetts · Feb 16, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 749: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.. 112th Congress. Open America. https://openamerica.io/bill/112-HR-749/
MLA
"H.R. 749: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-749/.
Bluebook (legal)
H.R. 749, 112th Cong. (2026), https://openamerica.io/bill/112-HR-749/.
Markdown link
[H.R. 749: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.](https://openamerica.io/bill/112-HR-749/)
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