On 28 July 2014, U.S. Senators Dick Durbin and Carl Levin, and Representatives Rosa DeLauro and Lloyd Doggett, introduced the No Federal Contracts for Corporate Deserters Act. As with the Stop Corporate Inversions Act of 2014 and other recent bill amendments, this new Act is designed to reduce corporate inversions.
Under the Act, inverted companies with over 50% ownership by shareholders of the old U.S. corporation and no substantial business opportunities in the foreign country in which the…