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Tax Incentives for Bringing Intellectual Property Assets Back to the US.

This bill introduces special tax rules designed to encourage large US corporations to transfer patents, software, and other intangible assets from their foreign subsidiaries back to the United States. These changes allow for tax-free or tax-deferred repatriation of these assets, aiming to boost domestic investment and job creation. While directly impacting corporate tax structures, the ultimate goal is strengthening the US economy.
Key points
Companies can transfer intellectual property (patents, software, know-how) from foreign subsidiaries to the US without immediately recognizing taxable gain.
The primary goal is to incentivize the repatriation of valuable assets and associated jobs back to the United States.
The new rules apply to distributions made in foreign corporate tax years beginning after December 31, 2023.
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Expired
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Additional Information
Print number: 118_HR_8274
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2024-05-07
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Bringing Back American Jobs Through Intellectual Property Repatriation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8274.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-07.

What are the main provisions?

Key points include:

  • Companies can transfer intellectual property (patents, software, know-how) from foreign subsidiaries to the US without immediately recognizing taxable gain.
  • The primary goal is to incentivize the repatriation of valuable assets and associated jobs back to the United States.
  • The new rules apply to distributions made in foreign corporate tax years beginning after December 31, 2023.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. LaHood, Darin [R-IL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy