S Corporation Modernization Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8619 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8619 To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 4, 2024 Mr. Wenstrup introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; REFERENCE. (a) Short Title.--This Act may be cited as the ``S Corporation Modernization Act of 2024''. (b) Amendment of 1986 Code.--Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal…