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United States · Bill · HR

H.R. 5125 (114th)

Corporate EXIT Fairness Act

referredUnited States· United States Congress· EN

Introduced

29 April 2016

Last action

29 April 2016 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Doggett, Lloyd [D-TX-37], Rep. Blumenauer, Earl [D-OR-3], Rep. Capuano, Michael E. [D-MA-8], Rep. Cartwright, Matt [D-PA-17], Rep. Cicilline, David N. [D-RI-1], Rep. Cohen, Steve [D-TN-9], Rep. Conyers, John, Jr. [D-MI-13], Rep. Cummings, Elijah E. [D-MD-7], Rep. Davis, Danny K. [D-IL-7], Rep. DeFazio, Peter A. [D-OR-4], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Ellison, Keith [D-MN-5], Rep. Farr, Sam [D-CA-20], Rep. Garamendi, John [D-CA-8], Rep. Green, Gene [D-TX-29], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Gutierrez, Luis V. [D-IL-4], Rep. Hastings, Alcee L. [D-FL-20], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Kildee, Daniel T. [D-MI-5], Rep. Lee, Barbara [D-CA-12], Rep. Levin, Sander M. [D-MI-12], Rep. Lewis, John [D-GA-5], Rep. Lipinski, Daniel [D-IL-3], Rep. Loebsack, David [D-IA-2], Rep. Lynch, Stephen F. [D-MA-8], Rep. McDermott, Jim [D-WA-7], Rep. McGovern, James P. [D-MA-2], Rep. Moore, Gwen [D-WI-4], Rep. Nadler, Jerrold [D-NY-12], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Payne, Donald M., Jr. [D-NJ-10], Rep. Pocan, Mark [D-WI-2], Rep. Rangel, Charles B. [D-NY-15], Rep. Roybal-Allard, Lucille [D-CA-40], Rep. Rush, Bobby L. [D-IL-1], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Scott, Robert C. "Bobby" [D-VA-3], Rep. Sherman, Brad [D-CA-32], Rep. Slaughter, Louise McIntosh [D-NY-25], Rep. Thompson, Mike [D-CA-4], Rep. Tonko, Paul [D-NY-20], Sen. Van Hollen, Chris [D-MD], Sen. Welch, Peter [D-VT], Rep. Yarmuth, John A. [D-KY-3], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Bass, Karen [D-CA-37], Rep. Perlmutter, Ed [D-CO-7]

Subjects

Taxation

Source updated

12 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Corporate EXpatriates and Inverters Tax Fairness Act or the Corporate EXIT Fairness Act This bill amends the Internal Revenue Code to set forth rules governing corporate inversions (i.e., the practice of relocating a domestic corporation's legal domicile to a lower-tax nation while retaining its business activities in the higher-tax country of origin) and corporate expatriations. Specifically, the bill requires payment of tax on the deferred overseas profits of U.S. multinational corporations or partnerships before they reincorporate or organize in a foreign country. Additionally, any stock of a controlled foreign corporation in connection with a corporate expatriation would be treated as sold for its fair market value as of the date of expatriation and be subject to U.S. taxation. The bill expands the definitions of "corporate inversion" and "corporate expatriation" and revises rules relating to the taxation of inverted corporations. A foreign corporation that acquires the assets of a U.S. corporation or partnership after April 29, 2016, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) the expanded affiliated group which includes the foreign corporation does not have substantial business activities in the foreign country in which the corporation is created or organized, when compared to the total business activities of such expanded affiliated group; and (2) more than 50% of the foreign corporation is held by former shareholders or partners of the domestic corporation or partnership, or the management or control of the expanded affiliated group occurs primarily within the United States, and such expanded affiliated group has significant domestic business activities.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 April 2016

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 29 April 2016

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 April 2016

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 April 2016

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 April 2016

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  • Introduced in House

    summary · EN · 29 April 2016

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Sponsors

Showing 48 of 51 sponsors and actors.

Related records

Sources

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