Bill journey · stage 2 of 5
Under committee review
What it doesSummary reported to house with amendment(s) (Feb 9, 2015)
Permanent S Corporation Charitable Contribution Act of 2015
(Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule that reduces the basis of the stock of an S corporation shareholder by the adjusted basis (rather than fair market value) of any charitable contribution made by the S corporation.
What just happenedFeb 9, 2015
Placed on the Union Calendar, Calendar No. 10.
Who’s behind it
Placed on the Union Calendar, Calendar No. 10.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-16.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-16.
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Permanent S Corporation Charitable Contribution Act of 2015
(Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule that reduces the basis of the stock of an S corporation shareholder by the adjusted basis (rather than fair market value) of any charitable contribution made by the S corporation.
Amends the Internal Revenue Code to make permanent the tax rule requiring a decrease in the basis of a shareholder's stock in an S corporation that makes tax deductible charitable contributions of property.