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- H.R.5754
H.R.5754: S Corporation Modernization Act of 2016
About This Bill
- Introduced July 13, 2016
- Latest Major Action July 13, 2016
- See the twelve similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (1 Democrat, 2 Republicans)
Bill Summary
S Corporation Modernization Act of 2016 This bill amends the Internal Revenue Code, with respect to the tax treatment of S corporations, to: allow a nonresident alien to be a qualifying beneficiary of an electing small business trust (ESBT), which is a type of trust that is permitted to hold shares in an S corporation; allow S corporations to increase passive investment income from 25% to 60% without incurring additional taxes; ...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 13, 2016 |
Referred to the House Committee on Ways and Means.
|
| July 13, 2016 |
Introduced in the House by Dave Reichert (R-Wash.) |