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]
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.
Title
Stop Corporate Inversions Act of 2014
Sponsors
Rep. Sander Levin [D-MI] | Rep. Timothy Bishop [D-NY] | Rep. Earl Blumenauer [D-OR] | Rep. Lois Capps [D-CA] |
Rep. Matthew Cartwright [D-PA] | Rep. Danny Davis [D-IL] | Rep. Rosa DeLauro [D-CT] | Rep. Theodore Deutch [D-FL] |
Rep. Lloyd Doggett [D-TX] | Rep. Keith Ellison [D-MN] | Rep. Luis Gutierrez [D-IL] | Rep. Rush Holt [D-NJ] |
Rep. Daniel Kildee [D-MI] | Rep. James Langevin [D-RI] | Rep. John Larson [D-CT] | Rep. John Lewis [D-GA] |
Rep. Nita Lowey [D-NY] | Rep. Jim McDermott [D-WA] | Rep. James McGovern [D-MA] | Rep. Grace Meng [D-NY] |
Rep. George Miller [D-CA] | Rep. Richard Neal [D-MA] | Rep. Eleanor Norton [D-DC] | Rep. Charles Rangel [D-NY] |
Rep. Lucille Roybal-Allard [D-CA] | Rep. John Sarbanes [D-MD] | Rep. Janice Schakowsky [D-IL] | Rep. Adam Schiff [D-CA] |
Rep. Allyson Schwartz [D-PA] | Rep. Carol Shea-Porter [D-NH] | Rep. Louise Slaughter [D-NY] | Rep. Jackie Speier [D-CA] |
Rep. Mike Thompson [D-CA] | Rep. Niki Tsongas [D-MA] | Sen. Chris Van Hollen [D-MD] | Rep. Henry Waxman [D-CA] |
Sen. Peter Welch [D-VT] |
History
Date | Chamber | Action |
---|---|---|
2014-05-20 | House | Referred 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
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
Administrative law and regulatory procedures
Corporate finance and management
Department of the Treasury
Foreign and international corporations
Income tax rates
Taxation
Taxation of foreign income
Corporate finance and management
Department of the Treasury
Foreign and international corporations
Income tax rates
Taxation
Taxation of foreign income
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/house-bill/4679/all-info |
Text | https://www.congress.gov/113/bills/hr4679/BILLS-113hr4679ih.pdf |