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HR 3934 114th Congress House

Corporate Fair Share Tax Act

Official title: To amend the Internal Revenue Code of 1986 to limit the interest deduction for excessive interest of members of financial reporting groups.

Introduced: November 5, 2015 Introduced by: Pocan, Mark Democratic · Wisconsin See on congress.gov
Taxation Accounting and auditingAdministrative law and regulatory proceduresCorporate finance and managementDepartment of the Treasury
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Income tax deductionsInterest, dividends, interest ratesTax administration and collection, taxpayers
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 5, 2015
Referred to the House Committee on Ways and Means.
Nov 5, 2015
Introduced in House
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 Latest action November 5, 2015

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Corporate Fair Share Tax Act

This bill amends the Internal Revenue Code to limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (a group that prepares consolidated financial statements according to accepted accounting principles or international financial reporting standards) to: (1) the amount of interest on indebtedness of the corporation includible in the corporation's gross income for the taxable year plus its proportionate share of the group's net interest expense in the taxable year computed under U.S. income tax principles; or (2) not more than 10% of the corporation's adjusted taxable income, if the corporation fails to substantiate its proportionate share of interest expense.

The bill exempts from the limitation a corporation that is predominantly engaged in the active conduct of a banking, financing, or similar business or that has less than $5 million of net interest expense for the taxable year.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Garamendi, John
California · Nov 5, 2015
 D
Nadler, Jerrold
New York · Nov 5, 2015
 D
Norton, Eleanor Holmes
District of Columbia · Nov 5, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3934: Corporate Fair Share Tax Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-3934/
MLA
"H.R. 3934: Corporate Fair Share Tax Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-3934/.
Bluebook (legal)
H.R. 3934, 114th Cong. (2026), https://openamerica.io/bill/114-HR-3934/.
Markdown link
[H.R. 3934: Corporate Fair Share Tax Act](https://openamerica.io/bill/114-HR-3934/)
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