S Corporation Modernization Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2017 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2017 To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 10, 2025 Mr. Sheehy introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ 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 2025''. (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 I…