h 2 58519 1245211200 false 1245211200 2910 293 111 400218

6/17/2009--Introduced.S Corporation Modernization Act of 2009 - Amends the Internal Revenue Code to revise the tax treatment of S corporations by: (1) permanently reducing from 10 to 7 years the period during which S corporation built-in gains are subject to tax; (2) repealing mandatory termination of S corporation elections for excessive passive investment income; (3) allowing S corporations to increase passive investment income from 25 to 60% without incurring additional tax; (4) allowing nonresident aliens to be potential current beneficiaries of an electing small business trust (ESBT); (5) allowing individual retirement accounts (IRAs) to be S corporation shareholders; (6) allowing ESBTs to claim expanded charitable tax deductions; and (7) making permanent the rule requiring a basis adjustment to stock of an S corporation making charitable contributions of property.

1245211200 2009-06-17 Fri Nov 13 21:32:17 -0600 2009 introduced 58519 'act':4 '2009':6 'corpor':2 'modern':3 75581 false short introduced 58519 '1986':8 'code':6 'amend':2 'corpor':13 'intern':4 'provid':10 'purpos':18 'reform':14 'revenu':5 74752 false official action 58519 1245211200 Wed Jun 17 00:00:00 -0500 2009 199653 Referred to the House Committee on Ways and Means. K000188 1963-03-16 2173 1406 Longworth House Office Building http://www.house.gov/kind/contact.shtml 3 202-225-5739 Ronald 'd':4 '-3':6 'wi':5 'rep':1 'ron':9 'kind':3,8,11 'ronald':2,7,10 M 400218 Kind Ron_Kind James Rep. Ronald Kind [D, WI-3] 1002 Ron N00004403 6273 Democrat 202-225-5506 Lutheran WI Ron Ronald Kind 4.4 http://www.house.gov/kind/ repronkind H000528 1945-05-20 1067 2268 Rayburn House Office Building http://www.house.gov/herger/contact.shtml 2 202-225-1740 Walter 'r':4 '-2':6 'ca':5 'rep':1 'walli':9 'herger':3,8,11 'walter':2,7,10 M 400176 Herger Wally_Herger Rep. Walter Herger [R, CA-2] 317 Wally N00007584 6382 Republican 202-225-3076 Latter Day Saints CA Wally Walter Herger 5.375 http://www.house.gov/herger/ RepWallyHerger P000265 1940-05-28 1508 2462 Rayburn House Office Building https://forms.house.gov/petri/zip_authen.shtml 6 202-225-2356 Thomas 'r':4 '-6':6 'wi':5 'rep':1 'tom':9 'petri':3,8,11 'thoma':2,7,10 M 400318 Petri Thomas_E._Petri E. Rep. Thomas Petri [R, WI-6] 682 Tom N00004426 5514 Republican 202-225-2476 Lutheran WI Tom Thomas Petri 5.0 http://www.house.gov/petri/ R000578 1950-08-29 4092 1223 Longworth House Office Building http://reichert.house.gov/Contact/ZipAuth.htm 8 202-225-4282 Dave 'r':4 '-8':6 'wa':5 'rep':1 'dave':2,7,9 'reichert':3,8,10 M 400660 Reichert David_G._Reichert G. Rep. Dave Reichert [R, WA-8] 1137 N00026885 7597 Republican 202-225-7761 WA Dave Dave Reichert 2.42222222222222 http://www.house.gov/reichert/ repdavereichert S001162 1948-10-03 1987 423 Cannon House Office Building http://schwartz.house.gov/issue_subscribe.shtml 13 202-226-0611 Allyson 'd':4 'pa':5 '-13':6 'rep':1 'allyson':2,7,9 'schwartz':3,8,10 F 400647 Schwartz Allyson_Y._Schwartz Y. Rep. Allyson Schwartz [D, PA-13] 732 N00001579 6266 Democrat 202-225-6111 PA Allyson Schwartz 2.71428571428571 http://schwartz.house.gov/ RepAllysonSchwartz action 58519 1245211200 Wed Jun 17 00:00:00 -0500 2009 199653 Referred to the House Committee on Ways and Means. introduced 58519 1245211200 Wed Jun 17 00:00:00 -0500 2009 199652