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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

S Corporation Permanent Tax Relief Act of 2014

Short Titles as Reported to House

Permanent S Corporation Built-in Gains Recognition Period Act of 2014

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains of S corporations.


Actions Overview (3)

Date
06/12/2014Passed/agreed to in House: On passage Passed by the Yeas and Nays: 263 - 155 (Roll no. 311).(text: CR H5324)
05/02/2014Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-429.
04/10/2014Introduced in House

All Actions (21)

Date Chamber
06/17/2014SenateRead the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.
06/16/2014SenateReceived in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
06/12/2014-12:10pmHouseMotion to reconsider laid on the table Agreed to without objection.
06/12/2014-12:10pmHouseOn passage Passed by the Yeas and Nays: 263 - 155 (Roll no. 311). (text: CR H5324)
06/12/2014-12:04pmHouseOn motion to recommit with instructions Failed by the Yeas and Nays: 188 - 229 (Roll no. 310).
06/12/2014-11:58amHouseConsidered as unfinished business. (consideration: CR H5340-5341)
06/12/2014-10:16amHousePOSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on the motion to recommit with instructions, and by voice vote, announced that the nays had prevailed. Mr. Neal demanded the yeas and nays, and pursuant to the order of the House of June 12, 2014, the Chair postponed further proceedings until a time to be announced.
06/12/2014-10:16amHouseThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H5339)
06/12/2014-10:09amHouseDEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend the built-in gains of S Corporations recognition period and the charitable contribution adjusted basis for two additional years. The point of order was subsequently withdrawn.
06/12/2014-10:08amHouseMr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H5329-5330, H5340-5341)
06/12/2014-10:08amHouseThe previous question was ordered pursuant to the rule. (consideration: CR H5329)
06/12/2014-9:18amHouseDEBATE - The House proceeded with one hour of debate on H.R. 4453.
06/12/2014-9:17amHouseConsidered under the provisions of rule H. Res. 616. (consideration: CR H5324-5330)
06/11/2014-1:49pmHouseRule H. Res. 616 passed House.
06/10/2014-7:33pmHouseRules Committee Resolution H. Res. 616 Reported to House. Rule provides for one hour of general debate on the bills. H.R. 4800 shall be considred for amendment under a modified open rule. H.R. 4457 and H.R. 4453 shall be considred for amendment under a closed rule.
05/02/2014HousePlaced on the Union Calendar, Calendar No. 317.
05/02/2014HouseReported (Amended) by the Committee on Ways and Means. H. Rept. 113-429.
04/29/2014HouseOrdered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 13.
04/29/2014HouseCommittee Consideration and Mark-up Session Held.
04/10/2014HouseReferred to the House Committee on Ways and Means.
04/10/2014HouseIntroduced in House

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Kind, Ron [D-WI-3]* 04/10/2014
Rep. Reed, Tom [R-NY-23] 04/29/2014

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means04/10/2014 Referred to
04/29/2014 Markup by
05/02/2014 Reported by H. Rept. 113-429

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Subjects (7)


Latest Summary (3)

There are 3 summaries for H.R.4453. View summaries

Shown Here:
Passed House amended (06/12/2014)

S Corporation Permanent Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the taxation of S corporations, to make permanent: (1) the reduction of the period (10 to 5 years) during which the built-in gains of such corporations are subject to tax, and (2) the rule requiring an adjustment to the basis of an shareholder's stock in an S corporation that makes tax deductible contributions of appreciated property. 

Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay As You Go) scorecard.