[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 630 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 630

 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.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 30, 2015

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

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                                 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, 
2014.
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