A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of film rents for purposes of the passive income requirements applicable to subchapter S corporations.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude film rents from classification as passive income for purposes of the requirement that an electing small business corporation under Subchapter S may not have gross receipts in any taxable year which constitute more than 20 percent passive investment income.…