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- S.711
S.711: S Corporation Modernization Act of 2017
About This Bill
- Introduced March 23, 2017
- Latest Major Action March 23, 2017
- See the eight similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (3 Democrats, 1 Republican)
Bill Version
- Introduced in Senate - March 23, 2017
Bill Summary
S Corporation Modernization Act of 2017 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; eliminate...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
Date | Description |
---|---|
March 23, 2017 |
Read twice and referred to the Committee on Finance.
|
March 23, 2017 |
Introduced in the Senate by John Thune (R-S.D.) |