Stop Corporate Inversions Act of 2024

This bill modifies U.S. tax rules to prevent corporations from restructuring as foreign entities to avoid paying U.S. taxes. It targets companies that restructured after May 8, 2014, by requiring them to pay U.S. taxes as if they were domestic corporations unless they meet strict U.S. business activity requirements. Key provisions include raising the ownership threshold for former U.S. shareholders from 60% to 80% and mandating that at least 25% of key business metrics (like employees, compensation, assets, or income) must occur in the U.S. The law applies to tax years after 2014, with limited exceptions for corporations maintaining substantial foreign operations.