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HR 5240 116th Congress House Taxation Foreign and international corporations Income tax deferral Taxation of foreign income U.S. and foreign investments

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

Introduced: November 21, 2019 See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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
Nov 21, 2019
Referred to the House Committee on Ways and Means.
Nov 21, 2019
Introduced in House
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 Plain-English summary Congressional Research Service

This bill 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).

What's happening now November 21, 2019

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • HR 3301 Related bill Taxpayer Certainty and Disaster Tax Relief Act of 2019
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 12
All 12 Democratic 5 Republican 5
R
Arrington, Jodey C.
Texas · Jan 7, 2020
 R
Schweikert, David
Arizona · Nov 29, 2019
 R
Estes, Ron
Kansas · Nov 21, 2019
Holding, George
· Nov 21, 2019
 R
LaHood, Darin
Illinois · Nov 21, 2019
 D
Larson, John B.
Connecticut · Nov 21, 2019
 D
Moore, Gwen
Wisconsin · Nov 21, 2019
 D
Schneider, Bradley Scott
Illinois · Nov 21, 2019
 D
Sewell, Terri A.
Alabama · Nov 21, 2019
 R
Smith, Jason
Missouri · Nov 21, 2019
 D
Suozzi, Thomas R.
New York · Nov 21, 2019
Walorski, Jackie
· Nov 21, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5240: To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.. 116th Congress. Open America. https://openamerica.io/bill/116-HR-5240/
MLA
"H.R. 5240: To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-5240/.
Bluebook (legal)
H.R. 5240, 116th Cong. (2026), https://openamerica.io/bill/116-HR-5240/.
Markdown link
[H.R. 5240: To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.](https://openamerica.io/bill/116-HR-5240/)
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