To amend the Internal Revenue Code of 1986 to make an exception to the 100 shareholder S corporation limitation in the case of shareholders whose shares were acquired through certain crowd-funding or small public offerings.

This bill amends the Internal Revenue Code, with respect to the taxation of S corporations, to exclude from the 100 shareholder limitation for such corporations individuals who acquired shares in an S corporation through: (1) a small issues public offering, or (2) one or more crowdfunding offerings.