US HB7493

Treats foreign corporations as domestic corporations for U.S. tax purposes if former shareholders/partners retain more than 50% ownership after acquiring substantially all properties of a domestic corporation or partnership (down from 60% threshold in current law)

Applies to acquisitions completed after May 8, 2014, targeting corporate inversions where companies reincorporate abroad while maintaining U.S. management and operations

Classifies a corporation as an "inverted domestic corporation" if its management and control occurs primarily within the United States and it has significant domestic business activities (at least 25% of employees, compensation, assets, or income in the U.S.)

Provides an exception for foreign corporations with substantial business activities in their country of incorporation compared to total group activities

Amends Section 7874 of the Internal Revenue Code and applies retroactively to taxable years ending after May 8, 2014