Law360, New York (August 1, 2014, 1:03 PM EDT) -- Corporate inversions have been the target of regulatory or statutory tax proposals for many years. However, the recently attempted combination of Pfizer and AstraZeneca received prompt and more far-reaching attention in the U.S. Congress, both in the House of Representatives and Senate. Rep. Sander Levin and Sen. Carl Levin (both D-Mich.) proposed legislation to be known as the Stop Corporate Inversions Act of 2014. Aside from a specific end date for the legislation, which is contained in the Senate bill, but not in the House bill, the bills are identical. The purpose of this article is to describe the current tax laws impacting inversion transactions, and the proposed changes thereto, and, in particular, to alert private equity fund sponsors to a risk that these rules may apply to adversely impact foreign portfolio companies that have not been inverted in the typical sense....