H.R. 630 — what changed

Permanent S Corporation Charitable Contribution Act of 2015

From Introduced in House to Reported in House. 1 section amended and 1 added between Introduced in House and Reported in House.

Section 1 Short title

added This Act may be cited as the “Permanent S Corporation Charitable Contribution Act of 2015”.

(a)

removed In general— Section 1367(a)(2) of the Internal Revenue Code of 1986 is amended by striking the last sentence.

(b)

removed Effective date— The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2014.

Sec. 2 Permanent rule regarding basis adjustment to stock of S corporations making charitable contributions of property

added

(a)

added In general— Section 1367(a)(2) of the Internal Revenue Code of 1986 is amended by striking the last sentence.

(b)

added Effective date— The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2014.