US Congress House Bill 4045 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on October 12 2017 - 25% progression, died in committee
Action: 2017-10-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

ROOT for Mainstreet Businesses Act Removing Onerous Obstacles in the Tax code for Mainstreet Businesses Act This bill amends the Internal Revenue Code to modify the tax treatment of personal holding companies. The bill excludes from the definition of "personal holding company" a corporation with greater than 50% stock ownership held by nonresident alien individuals with no effectively connected income under tax provisions regarding expatriation to avoid tax or the taxation of nonresident alien individuals. The bill also excludes from personal holding company income certain rents and royalties that are derived in the active conduct of a trade or business and are not received from a related person.

ROOT for Mainstreet Businesses Act Removing Onerous Obstacles in the Tax code for Mainstreet Businesses Act

Rep. Garland Barr [R-KY]	Rep. Patrick Tiberi [R-OH]	Rep. Mike Bishop [R-MI]	Rep. Brad Wenstrup [R-OH]
Rep. David Reichert [R-WA]

Date	Chamber	Action
2017-10-12	House	Referred to the House Committee on Ways and Means.
2017-10-12	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/4045/all-info
Text	https://www.congress.gov/115/bills/hr4045/BILLS-115hr4045ih.pdf