S. 2604: A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-ins gains for subchapter S corporations.
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S. 2604: A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-ins gains for subchapter S corporations.
108th Congress · introduced 2004-06-24 · Taxation · Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 6/25/2004 S7483)
federal
Follow this bill, step by step
- Where it came from: introduced 2004-06-24 · official record
- Who proposed it: Sen. Smith, Gordon H. [R-OR] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 6/25/2004 S7483) Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-ins gains for subchapter S corporations.
Plain summary
Amends the Internal Revenue Code to reduce from ten to seven years the period during which certain built-in gains of subchapter S corporations are subject to tax.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-ins gains for subchapter S corporations.
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Smith, Gordon H. [R-OR] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108s2604.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/s>
Record fed-us-cong108-s2604 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108