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S. 1501 117th Congress Senate

Stop Corporate Inversions Act of 2021

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

Introduced: April 29, 2021 Introduced by: Richard J. Durbin Democratic · Illinois See on congress.gov
Taxation Administrative law and regulatory proceduresCorporate finance and managementDepartment of the TreasuryForeign and international corporations
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Income tax ratesTaxation of foreign income
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Apr 29, 2021
Read twice and referred to the Committee on Finance. (text: CR S2364-2365)
Apr 29, 2021
Introduced in Senate
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 Latest action April 29, 2021

Read twice and referred to the Committee on Finance. (text: CR S2364-2365)

 Plain-English summary Congressional Research Service

Stop Corporate Inversions Act of 2021

This bill revises 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.

 Related & companion bills 3
  • HR 2976 Identical bill Stop Corporate Inversions Act of 2021
  • HR 1785 No Tax Breaks for Outsourcing Act
  • S 714 No Tax Breaks for Outsourcing Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 8 Independent 1
D
Baldwin, Tammy
Wisconsin · May 10, 2021
 D
Blumenthal, Richard
Connecticut · Apr 29, 2021
 D
Duckworth, Tammy
Illinois · Apr 29, 2021
 D
Hirono, Mazie K.
Hawaii · Apr 29, 2021
 D
Reed, Jack
Rhode Island · Apr 29, 2021
 I
Sanders, Bernard
Vermont · Apr 29, 2021
 D
Van Hollen, Chris
Maryland · Apr 29, 2021
 D
Warren, Elizabeth
Massachusetts · Apr 29, 2021
 D
Whitehouse, Sheldon
Rhode Island · Apr 29, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1501: Stop Corporate Inversions Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-1501/
MLA
"S. 1501: Stop Corporate Inversions Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1501/.
Bluebook (legal)
S. 1501, 117th Cong. (2026), https://openamerica.io/bill/117-S-1501/.
Markdown link
[S. 1501: Stop Corporate Inversions Act of 2021](https://openamerica.io/bill/117-S-1501/)
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