H.R. 2789 · 114th Congress
Capital Access for Small Business Banks Act
- Stage
- In committee
- Sponsor
- Kenny Marchant
- Introduced
- 2015-06-16
- Latest action
- 2015-06-16 · Introduced in House
Summary
Capital Access for Small Business Banks Act
This bill amends the Internal Revenue Code to allow a bank or a depository institution holding company which is an S corporation to: (1) have 500 shareholders (the current limit is 100 shareholders), and (2) issue qualified preferred bank stock. The bill makes a distribution of qualified preferred bank stock to a shareholder includible in the gross income of the shareholder and allows the bank or holding company to deduct the amount of such distribution.