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H.R. 892 113th Congress House

S Corporation Modernization Act of 2013

Official title: To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes.

Introduced: July 23, 2013 See on congress.gov
Taxation Accounting and auditingBusiness investment and capitalCapital gains taxCharitable contributions
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Employee benefits and pensionsIncome tax deductionsIncome tax exclusionSecuritiesSmall businessSocial work, volunteer service, charitable organizationsTax administration and collection, taxpayers
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 28, 2013
Referred to the House Committee on Ways and Means.
Feb 28, 2013
Introduced in House
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 Latest action February 28, 2013

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

S Corporation Modernization Act of 2013 - Amends the Internal Revenue Code to revise the tax treatment of S corporations by: (1) permanently reducing from 10 to 5 years the period during which S corporation built-in gains are subject to tax; (2) repealing mandatory termination of S corporation elections for excessive passive investment income; (3) allowing S corporations to increase passive investment income from 25 to 60% without incurring additional tax; (4) allowing nonresident aliens to be potential current beneficiaries of an electing small business trust (ESBT); (5) allowing individual retirement accounts (IRAs) to be S corporation shareholders; (6) allowing ESBTs to claim expanded charitable tax deductions; and (7) making permanent the rule requiring a basis adjustment to stock of an S corporation making charitable contributions of property.

 Related & companion bills 3
  • HR 4454 Permanent S Corporation Charitable Contributions Act of 2014
  • S 1855 A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains f…
  • S 2260 EXPIRE Act of 2014
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 1
Loebsack, David
· Jul 26, 2013
 R
Walberg, Tim
Michigan · Jul 23, 2013
Schock, Aaron
· Jun 26, 2013
Schwartz, Allyson
· Apr 17, 2013
Paulsen, Erik
· Mar 13, 2013
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 892: S Corporation Modernization Act of 2013. 113th Congress. Open America. https://openamerica.io/bill/113-HR-892/
MLA
"H.R. 892: S Corporation Modernization Act of 2013." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-892/.
Bluebook (legal)
H.R. 892, 113th Cong. (2026), https://openamerica.io/bill/113-HR-892/.
Markdown link
[H.R. 892: S Corporation Modernization Act of 2013](https://openamerica.io/bill/113-HR-892/)
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