US HB4679 | 2013-2014 | 113th Congress

Status

Spectrum: Partisan Bill (Democrat 37-0)
Status: Introduced on May 20 2014 - 25% progression, died in committee
Action: 2014-05-20 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Stop Corporate Inversions Act of 2014 - Amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.

Tracking Information

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Title

Stop Corporate Inversions Act of 2014

Sponsors


History

DateChamberAction
2014-05-20HouseReferred to the House Committee on Ways and Means.

Same As/Similar To

SB2360 (Related) 2014-05-20 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3188-31889)
SB2489 (Related) 2014-06-18 - Read twice and referred to the Committee on Finance.
HB4985 (Related) 2014-06-26 - Referred to the House Committee on Ways and Means.
HB5338 (Related) 2014-07-31 - Referred to House Foreign Affairs

Subjects


US Congress State Sources


Bill Comments

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