Stop Corporate Inversions Act of 2015

Summary

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.  

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Timeline

1. 20 January 2015

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286)

   Source: IntroReferral

2. 20 January 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 20 January 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 January 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 January 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 20 January 2015

  Open at official source

Sponsors

• Richard Durbin · D · Sponsor
• John Reed · D · Sponsor
• Sheldon Whitehouse · D · Sponsor
• Elizabeth Warren · D · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Rep. Boxer, Barbara [D-CA-6] · D · Sponsor
• Bernie Sanders · I · Cosponsor
• Jeff Merkley · D · Cosponsor
• Tammy Baldwin · D · Cosponsor
• Brian Schatz · D · Cosponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Gary Peters · D · Cosponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Cosponsor
• Edward Markey · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Stop Tax Haven Abuse Act
• related to → Stop Tax Haven Abuse Act
• related to → Stop Corporate Inversions Act of 2017
• related to → Stop Corporate Inversions Act of 2015
• related to ← GROW AMERICA Act
• related to ← Clean Energy Worker Just Transition Act
• related to ← Child CARE Act
• related to ← Corporate EXIT Fairness Act