S Corporation Modernization Act of 2009 (H.R. 2910)

Introduced by House Ways and Means Member, Congressman Ron Kind (D-WI) on June 17th, 2009, the S Corporation Modernization Act of 2009 is designed to update and simplify the rules governing S corporations b rules that date back as far as 50 years ago.B B Specifically, the legislation:

  • Enhances the ability of S corporations to attract and raise capital;
  • Makes it easier for family-owned S corporations to stay in the family; and
  • Encourages additional charitable giving by S corporations and the trusts that hold them.

Joining Congressman Kind in introducing the legislation were fellow Ways & Means Committee Members Wally Herger (R-CA), Allyson Schwartz (D-PA) and Dave Reichert (R-WA).

Click here to read S-CORPbs letter to House Members

Click here to read a section-by-section summary of the legislation

Click here to read the full text of the legislation