H.R. 5278 · 113th Congress
No Federal Contracts for Corporate Deserters Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DeLauroSponsor3 cosponsors · 3 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
No Federal Contracts for Corporate Deserters Act of 2014 - Prohibits an executive agency from awarding a contract (including a defense contract) to: (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary.
What it does: CRS summary · Introduced in House · Jul 30, 2014
No Federal Contracts for Corporate Deserters Act of 2014 - Prohibits an executive agency from awarding a contract (including a defense contract) to: (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary.
Directs each agency to include in each contract awarded with a value in excess of $10 million, other than a contract for exclusively commercial items, a clause that prohibits the prime contractor from: (1) awarding a first-tier subcontract with a value greater than 10% of the total prime contract to such an entity or joint venture, or (2) structuring subcontract tiers enabling such entity or joint venture to perform more than 10% of the total value of the prime contract.
Authorizes an agency to waive such requirements for a contract in the interest of national security. Provides for termination of a contract or suspension or debarment of a contractor in violation of this Act.
Requires a foreign incorporated entity to be treated as an inverted domestic corporation if: (1) the entity acquires, on or after May 8, 2014, substantially all of the properties held by a domestic corporation or substantially all of the assets of, or substantially all of the properties constituting a trade or business of, a domestic partnership; and (2) after the acquisition, either more than 50% of the stock of the entity is held by former shareholders of the domestic corporation or former partners of the domestic partnership, or the management and control of the expanded affiliated group which includes the entity occurs primarily within the United States and such expanded affiliated group has significant domestic business activities. Sets forth an exception for an entity within an expanded affiliated group with substantial business activities in the foreign country in which the entity is created.
Requires the Secretary of the Treasury to prescribe regulations for determining cases in which the management and control of an expanded affiliated group is to be treated as occurring primarily within the United States.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: No Federal Contracts for Corporate Deserters Act of 2014
Latest action (Jul 30, 2014): Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Government Operations and Politics · Origin: House · Introduced: Jul 30, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.