Stop Corporate Inversions Act of 2014
Latest action · May 20, 2014 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 20, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 36
Members who signed on, in the order they did. Signatures ran from May 20, 2014 to Nov 20, 2014, with 9 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles B. Rangel | Original | May 20, 2014 |
| D-MD | Chris Van Hollen | Original | May 20, 2014 |
| D-IL | Danny K. Davis | Original | May 20, 2014 |
| D-IL | Janice D. Schakowsky | Original | May 20, 2014 |
| D-WA | Jim McDermott | Original | May 20, 2014 |
| D-CT | John B. Larson | Original | May 20, 2014 |
| D-TX | Lloyd Doggett | Original | May 20, 2014 |
| D-MA | Richard E. Neal | Original | May 20, 2014 |
| D-CT | Rosa L. DeLauro | Original | May 20, 2014 |
| D-NY | Louise McIntosh Slaughter | Jun 11, 2014 | |
| D-PA | Allyson Y. Schwartz | Jun 30, 2014 | |
| D-CA | George Miller | Jun 30, 2014 | |
| D-OR | Earl Blumenauer | Jul 22, 2014 | |
| D-RI | James R. Langevin | Jul 22, 2014 | |
| D-GA | John Lewis | Jul 22, 2014 |
Actions 2
Everything that happened, newest first.
- May 20, 2014Introduced in House
- May 20, 2014Referred to the House Committee on Ways and Means.
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2360 | Stop Corporate Inversions Act of 2014 | Related bill | May 20, 2014 |
| S 2489 | American Jobs for American Infrastructure Act | Related bill | Jun 18, 2014 |
| HR 4985 | Stop Corporate Expatriation and Invest in America's Infrastructure Act of 2014 | Related bill | Jun 26, 2014 |
| HR 5338 | Federal Employee Pension Fairness Act | Related bill | Jul 31, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 20, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.