S. 198 · 114th Congress
Stop Corporate Inversions Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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DurbinSponsor15 cosponsors · 14 D, 1 I
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Boxer
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Feinstein
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Franken
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Hirono
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Reed
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Whitehouse
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Warren
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Sanders
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Merkley
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Baldwin
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Schatz
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Leahy
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Peters
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Mikulski
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Markey7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Jan 20, 2015
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Corporate Inversions Act of 2015
Latest action (Jan 20, 2015): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286)
Policy area: Taxation · Origin: Senate · Introduced: Jan 20, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.