Permanent S Corporation Charitable Contributions Act of 2014

Permanent S Corporation Charitable Contributions Act of 2014 - Amends the Internal Revenue Code to make permanent the tax rule requiring an adjustment to the basis of a shareholder's stock in an S corporation that makes tax deductible charitable contributions of appreciated property in taxable years beginning after 2013.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4454 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4454

 To amend the Internal Revenue Code of 1986 to make permanent certain 
  rules regarding basis adjustments to stock of S corporations making 
                 charitable contributions of property.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 10, 2014

Mr. Reichert (for himself and Mr. Kind) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to make permanent certain 
  rules regarding basis adjustments to stock of S corporations making 
                 charitable contributions of property.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PERMANENT RULE REGARDING BASIS ADJUSTMENT TO STOCK OF S 
              CORPORATIONS MAKING CHARITABLE CONTRIBUTIONS OF PROPERTY.

    (a) In General.--Section 1367(a)(2) of the Internal Revenue Code of 
1986 is amended by striking the last sentence.
    (b) Effective Date.--The amendment made by this section shall apply 
to contributions made in taxable years beginning after December 31, 
2013.
                                 <all>