3.0.0 975 2023-01-11T13:27:23Z 2023-01-11T13:27:23Z Senate S 2015-04-16 114 ssga00 Homeland Security and Governmental Affairs Committee Senate Standing Referred to 2015-04-16T16:38:28Z No Federal Contracts for Corporate Deserters Act of 2015 114 1809 HR 2015-04-15 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2015-04-16 ssga00 Homeland Security and Governmental Affairs Committee Senate Read twice and referred to the Committee on Homeland Security and Governmental Affairs. IntroReferral 2015-04-16 Introduced in Senate IntroReferral 10000 9 Library of Congress D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. N R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2015-04-16 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2015-04-16 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2015-04-16 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2015-04-21 False Government Operations and Politics Administrative law and regulatory procedures Corporate finance and management Department of the Treasury Foreign and international corporations Military procurement, research, weapons development Public contracts and procurement Government Operations and Politics 00 2015-04-16 Introduced in Senate 2015-05-12T19:21:05Z American Business for American Companies Act of 2015

Prohibits an executive agency from awarding a contract for the procurement of property or services (including a defense contract) to: (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary.

Directs each agency to include in each such contract awarded with a value in excess of $10 million, other than a contract for exclusively commercial items, a clause that prohibits the prime contractor from: (1) awarding a first-tier subcontract with a value greater than 10% of the total prime contract to such an entity or joint venture, or (2) structuring subcontract tiers enabling such entity or joint venture to perform more than 10% of the total value of the prime contract.

Authorizes an agency to waive such requirements for a contract in the interest of national security or when necessary for the efficient or effective administration of federal or federally funded: (1) programs that provide health benefits to individuals, or (2) public health programs. Provides for termination of a contract or suspension or debarment of a contractor in violation of this Act.

Requires a foreign incorporated entity to be treated as an inverted domestic corporation if: (1) the entity acquires, on or after May 8, 2014, substantially all of the properties held by a domestic corporation or substantially all of the assets of, or substantially all of the properties constituting a trade or business of, a domestic partnership; and (2) after the acquisition, either more than 50% of the stock of the entity is held by former shareholders of the domestic corporation or former partners of the domestic partnership, or the management and control of the expanded affiliated group which includes the entity occurs primarily within the United States and such expanded affiliated group has significant domestic business activities. Sets forth an exception for an entity within an expanded affiliated group with substantial business activities in the foreign country in which the entity is created. Requires the Department of the Treasury to prescribe regulations for determining cases in which the management and control of an expanded affiliated group is to be treated as occurring primarily within the United States.

]]> American Business for American Companies Act of 2015 Display Title American Business for American Companies Act of 2015 Official Title as Introduced A bill to prohibit the award of Federal Government contracts to inverted domestic corporations, and for other purposes. Introduced in Senate IS Short Titles as Introduced American Business for American Companies Act of 2015 Introduced in Senate 2015-04-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s975is/xml/BILLS-114s975is.xml 2015-04-16 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.