On the recordJune 12, 2014
Mr. Speaker, I am opposed to the bill in its current form. The SPEAKER pro tempore. The Clerk will report the motion to recommit. The Clerk read as follows: Mr. Neal moves to recommit the bill H.R. 4453 to the Committee on Ways and Means with instructions to report the same back to the House forthwith with the following amendments: Amend section 2 to read as follows: SEC. 2. TWO-YEAR EXTENSION OF REDUCED RECOGNITION PERIOD FOR BUILT-IN GAINS OF S CORPORATIONS. (a) In General.--Subparagraph (C) of section 1374(d)(7) of the Internal Revenue Code of 1986 is amended by striking ``2012 or 2013'' and inserting ``2012, 2013, 2014, or 2015''. (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2013. Amend section 3 to read as follows: SEC. 3. TWO-YEAR EXTENSION OF RULE REGARDING BASIS ADJUSTMENT TO STOCK OF S CORPORATION MAKING CHARITABLE CONTRIBUTIONS OF PROPERTY. (a) In General.--The last sentence of section 1367(a)(2) of the Internal Revenue Code of 1986 is amended by striking ``December 31, 2013'' and inserting ``December 31, 2015''. (b) Effective Date.--The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2013. Mr. NEAL (during the reading). Mr. Speaker, I ask unanimous consent to dispense with the reading. The SPEAKER pro tempore. Is there objection to the request of the gentleman from Massachusetts?
