S Corporation Permanent Tax Relief Act of 2014
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HR 4453 — S Corporation Permanent Tax Relief Act of 2014
Last action — Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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Died in session
This bill died with 113th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
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.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 4453 on the official United States source →Action History
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Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.
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Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
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Motion to reconsider laid on the table Agreed to without objection.
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On passage Passed by the Yeas and Nays: 263 - 155 (Roll no. 311). (text: CR H5324)
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On motion to recommit with instructions Failed by the Yeas and Nays: 188 - 229 (Roll no. 310).
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Considered as unfinished business. (consideration: CR H5340-5341)
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POSTPONED 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.
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The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H5339)
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DEBATE - 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.
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Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H5329-5330, H5340-5341)
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The previous question was ordered pursuant to the rule. (consideration: CR H5329)
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DEBATE - The House proceeded with one hour of debate on H.R. 4453.
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Considered under the provisions of rule H. Res. 616. (consideration: CR H5324-5330)
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Rule H. Res. 616 passed House.
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Rules 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.
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Placed on the Union Calendar, Calendar No. 317.
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Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-429.
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Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 13.
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Committee Consideration and Mark-up Session Held.
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Referred to the House Committee on Ways and Means.
Sponsors
- David Reichert · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 4453 do?
- 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.
- Who sponsors HR 4453?
- HR 4453 is sponsored by David Reichert (R).
- What is the current status of HR 4453?
- This bill died with 113th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 4453?
- Track HR 4453 free on One Click Politics — get push/email alerts when it moves.
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