3.0.0 1636 2023-01-11T13:37:02Z 2023-01-11T13:37:02Z Senate S 2017-07-26 115 ssfi00 Finance Committee Senate Standing Referred to 2017-07-26T20:59:24Z No Tax Breaks for Outsourcing Act 115 5108 HR 2018-02-27 Referred to the House Committee on Ways and Means. Related bill CRS No Tax Breaks for Outsourcing Act 115 2459 S 2018-02-27 Read twice and referred to the Committee on Finance. Related bill CRS 100 by '50 Act 115 3314 HR 2018-05-22 Referred to the Subcommittee on Energy. Related bill CRS 100 by '50 Act 115 987 S 2017-07-11 Star Print ordered on the bill. Related bill CRS Stop Corporate Inversions Act of 2017 115 3434 HR 2017-07-26 Referred to the House Committee on Ways and Means. Identical bill CRS 2017-07-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4301-4302) IntroReferral 2017-07-26 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. 2017-07-26 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2017-07-26 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2017-07-26 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2017-07-26 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2017-07-26 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2017-07-26 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2017-07-26 True D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2017-07-26 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2017-07-26 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2017-07-26 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2017-08-02 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2017-09-05 False Taxation Administrative law and regulatory procedures Corporate finance and management Department of the Treasury Foreign and international corporations Income tax rates Taxation of foreign income Taxation 00 2017-07-26 Introduced in Senate 2017-08-11T13:51:16Z Stop Corporate Inversions Act of 2017

This bill 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). The bill provides 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.

 

]]> Stop Corporate Inversions Act of 2017 Display Title Stop Corporate Inversions Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations. Introduced in Senate IS Short Titles as Introduced Stop Corporate Inversions Act of 2017 Introduced in Senate 2017-07-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1636is/xml/BILLS-115s1636is.xml 2017-07-26 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4301-4302) 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.