Skip to main content
HR 2788 114th Congress House

S Corporation Modernization Act of 2015

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

Introduced: June 18, 2015 See on congress.gov
Taxation Accounting and auditingBusiness investment and capitalCapital gains taxCharitable contributions
More subjectsShow fewer subjects
Corporate finance and managementEmployee benefits and pensionsIncome tax deductionsIncome tax exclusionSecuritiesSmall businessTax administration and collection, taxpayers
Sign in to write a letter Sign in to watch
This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Jun 16, 2015
Referred to the House Committee on Ways and Means.
Jun 16, 2015
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action June 16, 2015

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

S Corporation Modernization Act of 2015 

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 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 629 Related bill Permanent S Corporation Built-in Gain Recognition Period Act of 2015
  • HR 630 Related bill Permanent S Corporation Charitable Contribution Act of 2015
  • S 1905 Related bill A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains f…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2788: S Corporation Modernization Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-2788/
MLA
"H.R. 2788: S Corporation Modernization Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-2788/.
Bluebook (legal)
H.R. 2788, 114th Cong. (2026), https://openamerica.io/bill/114-HR-2788/.
Markdown link
[H.R. 2788: S Corporation Modernization Act of 2015](https://openamerica.io/bill/114-HR-2788/)
Report a problem