,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #ggdi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #bc1 #bjbj,mr4  
,la,hood 7= himself & ,mr4 ,f]guson7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to enc\rage ! transf] (   
intangible prop]ty f controll$ =eign    
corporations to ,unit$ ,/ates %>ehold]s4
  #a4 ,special rules = transf]s (       
intangible prop]ty f controll$ =eign    
corporations to ,unit$ ,/ates %>ehold]s 
7a7 ,9 g5]al ,subp>t ,f ( "p ,,iii (    
sub*apt] ,n ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #iff4   
,transf]s ( intangible prop]ty to ,unit$
 ,/ates %>ehold]s  7a7 ,9 g5]al ,if a   
controll$ =eign corporation holds       
intangible prop]ty on ! date ( !        
enactm5t ( ?is section & !reaft]        
di/ributes su* prop]ty to a dome/ic     
corporation :i* is a ,unit$ ,/ates      
%>ehold] ) respect to su* controll$     

=eign corporation-- 7#a7 = purposes ( "p
 ,i ( sub*apt] ,c & any o!r provision ( 
?is title specifi$ by ! ,secret>y1 !    
fair m>ket value ( su* prop]ty on ! date
 ( su* di/ribution %all be treat$ z n   
exce$+ ! adju/$ basis ( su* prop]ty     
imm$iately be=e su* di/ribution1 &  7#b7
 if any portion ( su* di/ribution is n a
 divid5d-- 7,a7 no ga9 %all be recogniz$
 by su* ,unit$ ,/ates %>ehold] ) respect
 to su* di/ribution1 &  7,b7 ! adju/$   
basis ( su* prop]ty 9 ! h&s ( su* ,unit$
 ,/ates %>ehold] imm$iately aft] su*    
di/ribution %all be ! adju/$ basis ( su*
 prop]ty 9 ! h&s ( su* controll$ =eign  
corporation imm$iately be=e su*         
di/ribution r$uc$ by ! am\nt 7if any7 ( 
ga9 n recogniz$ by reason ( subp>agraph 
7,a7 7det]m9$ aft] ! application (      
p>agraph 7#a774  7b7 ,intangible prop]ty
 ,= purposes ( ?is section1 ! t]m       
intangible prop]ty means any-- 7#a7     
pat5t1 copyright1 lic5se1 inv5tion1     
=mula1 process1 design1 patt]n1 "k-h[1  
or =mat1  7#b7 me?od1 program1 sy/em1   

proc$ure1 campaign1 survey1 /udy1 =eca/1
 e/imate1 or te*nical data1  7#c7       
comput] s(tw>e 7z def9$ 9 section       
#aig7;e77#c77;,b771 or  7#d7 any simil> 
item1 :i* has sub/antial value indep5d5t
 ( ! s]vices ( any individual4  4  7b7  
,con=m+ am5dm5ts  7#a7 ,section         
#aig7;f77#b77;,b77i7 ( su* ,code is     
am5d$ by ins]t+ #iff7;a71 aft] #gca14   
7#b7 ,! table ( sections = subp>t ,f (  
"p ,,iii ( sub*apt] ,n ( *apt] #a ( su* 
,code is am5d$ by add+ at ! end ! foll[+
 new item3  ,sec4 #iff4 ,transf]s (     
intangible prop]ty to ,unit$ ,/ates     
%>ehold]s4  4  7c7 ,effective date ,!   
am5dm5ts made by ?is section %all apply 
to di/ributions made 9 taxable ye>s (   
=eign corporations beg9n+ aft] ,decemb] 
#ca1 #bjbj1 & to taxable ye>s ( ,unit$  
,/ates %>ehold]s 9 :i* or ) :i* su*     
taxable ye>s ( =eign corporations end4