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Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Stop Corporate Inversions Act of 2019

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations.


Actions Overview (1)

Date
07/17/2019Introduced in Senate

All Actions (1)

Date
07/17/2019Read twice and referred to the Committee on Finance. (text: CR S4911-4912)
Action By: Senate

Committees (1)

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
Senate Finance07/17/2019 Referred to

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Subjects (1)


Latest Summary (1)

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Shown Here:
Introduced in Senate (07/17/2019)

Stop Corporate Inversions Act of 2019

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.