US HB415 | 2015-2016 | 114th Congress
Status
Sponsorship: Partisan Bill (Democrat 19)
Status: Introduced on January 20 2015 - 25% progression, died in committee
Action: 2015-01-20 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 20 2015 - 25% progression, died in committee
Action: 2015-01-20 - 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 2015 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 2015
Sponsors
| Rep. Sander Levin [D-MI] | Rep. Lloyd Doggett [D-TX] | Rep. Louise Slaughter [D-NY] | Sen. Chris Van Hollen [D-MD] |
| Rep. Daniel Kildee [D-MI] | Rep. Janice Schakowsky [D-IL] | Sen. Adam Schiff [D-CA] | Rep. Rosa DeLauro [D-CT] |
| Rep. Earl Blumenauer [D-OR] | Rep. Grace Meng [D-NY] | Rep. Peter DeFazio [D-OR] | Rep. Peter Visclosky [D-IN] |
| Rep. Elijah Cummings [D-MD] | Rep. Mark Takano [D-CA] | Sen. Peter Welch [D-VT] | Rep. Joe Courtney [D-CT] |
| Rep. David Cicilline [D-RI] | Rep. Eleanor Norton [D-DC] | Rep. Ted Lieu [D-CA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-20 | House | Referred to the House Committee on Ways and Means. |
| 2015-01-20 | House | Introduced in House |
Same As/Similar To
HB297 (Related) 2015-01-13 - Referred to House Financial Services
SB198 (Same As) 2015-01-20 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286)
SB174 (Related) 2015-01-13 - Read twice and referred to the Committee on Finance.
SB2398 (Related) 2015-12-10 - Read twice and referred to the Committee on Finance.
HB3064 (Related) 2015-08-18 - Referred to the Subcommittee on Research and Technology.
SB2539 (Related) 2016-02-10 - Read twice and referred to the Committee on Finance.
HB5125 (Related) 2016-04-29 - Referred to the House Committee on Ways and Means.
SB198 (Same As) 2015-01-20 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286)
SB174 (Related) 2015-01-13 - Read twice and referred to the Committee on Finance.
SB2398 (Related) 2015-12-10 - Read twice and referred to the Committee on Finance.
HB3064 (Related) 2015-08-18 - Referred to the Subcommittee on Research and Technology.
SB2539 (Related) 2016-02-10 - Read twice and referred to the Committee on Finance.
HB5125 (Related) 2016-04-29 - Referred to the House Committee on Ways and Means.
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/114th-congress/house-bill/415/all-info |
| Text | https://www.congress.gov/114/bills/hr415/BILLS-114hr415ih.pdf |
