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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Stop Tax Haven Abuse Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes.


Actions Overview (1)

Date
07/27/2011Introduced in House

All Actions (5)

Date
08/22/2011Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Action By: Committee on Financial Services
08/22/2011Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Action By: Committee on Financial Services
07/27/2011Referred to the Committee on Ways and Means, and in addition to the Committee on Financial 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.
Action By: House of Representatives
07/27/2011Referred to the Committee on Ways and Means, and in addition to the Committee on Financial 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.
Action By: House of Representatives
07/27/2011Introduced in House
Action By: House of Representatives

Cosponsors (77)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Levin, Sander M. [D-MI-12]* 07/27/2011
Rep. Larson, John B. [D-CT-1]* 07/27/2011
Rep. DeLauro, Rosa L. [D-CT-3]* 07/27/2011
Rep. Van Hollen, Chris [D-MD-8]* 07/27/2011
Rep. Miller, George [D-CA-7]* 07/27/2011
Rep. Blumenauer, Earl [D-OR-3]* 07/27/2011
Rep. McDermott, Jim [D-WA-7]* 07/27/2011
Rep. Lewis, John [D-GA-5]* 07/27/2011
Rep. Berkley, Shelley [D-NV-1]* 07/27/2011
Rep. Stark, Fortney Pete [D-CA-13]* 07/27/2011
Rep. Pascrell, Bill, Jr. [D-NJ-8]* 07/27/2011
Rep. Welch, Peter [D-VT-At Large]* 07/27/2011
Rep. Slaughter, Louise McIntosh [D-NY-28]* 07/27/2011
Rep. Dingell, John D. [D-MI-15]* 07/27/2011
Rep. Yarmuth, John A. [D-KY-3]* 07/27/2011
Rep. Sanchez, Linda T. [D-CA-39]* 07/27/2011
Rep. Conyers, John, Jr. [D-MI-14]* 07/27/2011
Rep. Schakowsky, Janice D. [D-IL-9]* 07/27/2011
Rep. Davis, Danny K. [D-IL-7]* 07/27/2011
Rep. McGovern, James P. [D-MA-3]* 07/27/2011
Rep. Filner, Bob [D-CA-51]* 07/27/2011
Rep. Green, Gene [D-TX-29]* 07/27/2011
Rep. Hinchey, Maurice D. [D-NY-22]* 07/27/2011
Rep. Grijalva, Raul M. [D-AZ-7]* 07/27/2011
Rep. Hirono, Mazie K. [D-HI-2]* 07/27/2011
Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4]* 07/27/2011
Rep. Lee, Barbara [D-CA-9]* 07/27/2011
Rep. Moore, Gwen [D-WI-4]* 07/27/2011
Rep. Tierney, John F. [D-MA-6]* 07/27/2011
Rep. Kaptur, Marcy [D-OH-9]* 07/27/2011
Rep. Johnson, Eddie Bernice [D-TX-30]* 07/27/2011
Rep. DeFazio, Peter A. [D-OR-4]* 07/27/2011
Rep. Tonko, Paul [D-NY-21]* 07/27/2011
Rep. Sherman, Brad [D-CA-27]* 07/27/2011
Rep. Jackson Lee, Sheila [D-TX-18]* 07/27/2011
Rep. Peters, Gary C. [D-MI-9]* 07/27/2011
Rep. Rush, Bobby L. [D-IL-1]* 07/27/2011
Rep. Farr, Sam [D-CA-17]* 07/27/2011
Rep. Moran, James P. [D-VA-8]* 07/27/2011
Rep. Baldwin, Tammy [D-WI-2]* 07/27/2011
Rep. Edwards, Donna F. [D-MD-4]* 07/27/2011
Rep. Markey, Edward J. [D-MA-7]* 07/27/2011
Rep. Holt, Rush [D-NJ-12]* 07/27/2011
Rep. Fattah, Chaka [D-PA-2]* 07/27/2011
Rep. Cleaver, Emanuel [D-MO-5]* 07/27/2011
Rep. Cummings, Elijah E. [D-MD-7]* 07/27/2011
Rep. Green, Al [D-TX-9]* 07/27/2011
Rep. Nadler, Jerrold [D-NY-8]* 07/27/2011
Rep. Payne, Donald M. [D-NJ-10]* 07/27/2011
Rep. Bass, Karen [D-CA-33]* 07/27/2011
Rep. Sutton, Betty [D-OH-13]* 07/27/2011
Rep. Ellison, Keith [D-MN-5]* 07/27/2011
Rep. Andrews, Robert E. [D-NJ-1]* 07/27/2011
Rep. Fudge, Marcia L. [D-OH-11] 08/01/2011
Rep. Loebsack, David [D-IA-2] 08/01/2011
Rep. Deutch, Theodore E. [D-FL-19] 08/01/2011
Rep. Braley, Bruce L. [D-IA-1] 02/17/2012
Rep. Rothman, Steven R. [D-NJ-9] 02/17/2012
Rep. Garamendi, John [D-CA-10] 02/17/2012
Rep. Langevin, James R. [D-RI-2] 02/17/2012
Rep. Costello, Jerry F. [D-IL-12] 02/17/2012
Rep. Jackson, Jesse L., Jr. [D-IL-2] 02/17/2012
Rep. Brady, Robert A. [D-PA-1] 02/17/2012
Rep. Chu, Judy [D-CA-32] 03/08/2012
Rep. Cicilline, David N. [D-RI-1] 03/08/2012
Rep. Capuano, Michael E. [D-MA-8] 03/08/2012
Rep. Clarke, Hansen [D-MI-13] 03/08/2012
Rep. Keating, William R. [D-MA-10] 03/08/2012
Rep. Olver, John W. [D-MA-1] 03/08/2012
Rep. Lipinski, Daniel [D-IL-3] 03/08/2012
Rep. Pallone, Frank, Jr. [D-NJ-6] 09/21/2012
Rep. Gutierrez, Luis V. [D-IL-4] 09/21/2012
Rep. DeGette, Diana [D-CO-1] 12/13/2012
Rep. Tsongas, Niki [D-MA-5] 12/13/2012
Rep. Lujan, Ben Ray [D-NM-3] 12/13/2012
Rep. Pingree, Chellie [D-ME-1] 12/13/2012
Rep. Boswell, Leonard L. [D-IA-3] 12/13/2012

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means07/27/2011 Referred to
House Financial Services07/27/2011 Referred to
House Financial Services Subcommittee on Financial Institutions and Consumer Credit08/22/2011 Referred to
House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises08/22/2011 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Latest Summary (1)

There is one summary for H.R.2669. View summaries

Shown Here:
Introduced in House (07/27/2011)

Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of prime money laundering concern or that impede U.S. tax enforcement.

Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act (FATCA), (2) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, (3) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts, (4) treat credit default swap payments sent offshore as taxable U.S. source income, (5) allow the use of tax return information to evaluate foreign financial account reports, (6) increase penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability, (7) prohibit tax advisor contingent fee agreements for obtaining a tax savings or benefit, and (8) impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons).

Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, sales, financing, tax obligations, and tax payments; and (2) authorize a fine of up to $1 million for failure to disclose any holding or transaction involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements.

Requires the Secretary to publish a proposed rule in the Federal Register requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs and submit suspicious activity reports.

Extends anti-money laundering requirements to persons engaged in the business of forming new businesses or other legal entities.

Requires federal banking agencies and the SEC to develop examination techniques to detect and prevent abusive tax shelter activities or the aiding or abetting of tax evasion by financial institutions.

Requires the Secretary to: (1) disclose tax return information to federal financial regulators for purposes of tax shelter investigations; (2) disclose to Congress documents relating to a determination to grant, deny, revoke, or restore the tax-exempt status of an organization; and (3) expand the standards applicable to tax practitioners for issuing written advice on transactions which have a potential for tax avoidance or evasion.