S. 2017 · Where this bill is now
In committee
Introduced in the Senate, Jun 10, 2025
119th Congress
1st SessionS. 2017
1st SessionS. 2017
A BILL
S Corporation Modernization Act of 2025
In the SenateNo vote yet
Sponsor: Sen. Tim Sheehy (R-MT) · Introduced Jun 10, 2025 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jun 10, 2025: “Read twice and referred to the Committee on Finance.”
Sections
Sections · 8
- Sec. 1Short title; referenceNo change
- Sec. 2Treatment of S corporation built-in gain amount upon death of shareholderNo change
- Sec. 3Modifications to S corporation passive investment income rulesNo change
- Sec. 4Nonresident alien individuals permitted as S corporation shareholdersNo change
- Sec. 5Employees of a firm counted as a single shareholder toward shareholder limit of S corporationNo change
- Sec. 6Expansion of S corporation eligible shareholders to include IRAsNo change
- Sec. 7Transfer of suspended losses incident to deathNo change
- Sec. 8Repeal of inclusion in gross income of deferred compensation under nonqualified deferred compensation plansNo change