skip to main content

H.R. 2626 (114th): To amend the Internal Revenue Code of 1986 to permit Indian tribal governments to be shareholders of S corporations.

The text of the bill below is as of Jun 3, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 2626

IN THE HOUSE OF REPRESENTATIVES

June 3, 2015

(for himself and Mr. Cole) 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 permit Indian tribal governments to be shareholders of S corporations.

1.

Indian tribal governments permitted to be shareholders of S corporations

(a)

In general

Section 1361(b)(1)(B) of the Internal Revenue Code of 1986 is amended by striking or an organization described in subsection (c)(6) and inserting an organization described in subsection (c)(6), or an Indian tribal government (as defined in section 7701(a)(40) and including any subdivision of such government and any agency or instrumentality of such government or subdivision).

(b)

Effective date

The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.