To amend the Internal Revenue Code of 1986 to treat as an asset acquisition any hostile qualified stock purchase by a foreign person and to limit the deduction for certain interest where a foreign person acquires control of a domestic corporation.

Summary

Amend the Internal Revenue Code to require that a hostile stock purchase by a foreign person in a corporate takeover be treated as an asset acquisition by the purchasing corporation. Disallows an income tax deduction for interest on any indebtedness incurred or continued to purchase or carry corporate stock in the domestic corporation.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 April 1990

  Open at official source

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