S.Amdt. 3190

SA 3190. Mr. THUNE submitted an amendment intended to be proposed to
amendment SA 3060 proposed by Mr. Wyden to the bill H.R. 3474, to amend
the Internal Revenue Code of 1986 to allow employers to exempt
employees with health coverage under TRICARE or the Veterans
Administration from being taken into account for purposes of the
employer mandate under the Patient Protection and Affordable Care Act;
which was ordered to lie on the table; as follows:

Strike sections 137 and 138 and insert the following:

SEC. 137. PERMANENT RULE REGARDING BASIS ADJUSTMENT TO STOCK
OF S CORPORATIONS MAKING CHARITABLE
CONTRIBUTIONS OF PROPERTY.

(a) In General.--Section 1367(a)(2) is amended by striking
the last sentence.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2013.

SEC. 138. REDUCED RECOGNITION PERIOD FOR BUILT-IN GAINS OF S
CORPORATIONS MADE PERMANENT.

(a) In General.--Paragraph (7) of section 1374(d) is
amended to read as follows:
``(7) Recognition period.--
``(A) In general.--The term recognition period means the 5-
year period beginning with the 1st day of the 1st taxable
year for which the corporation was an S corporation. For
purposes of applying this section to any amount includible in
income by reason of distributions to shareholders pursuant to
section 593(e), the preceding sentence shall be applied
without regard to the phrase 5-year.
``(B) Installment sales.--If an S corporation sells an
asset and reports the income from the sale using the
installment method under section 453, the treatment of all
payments received shall be governed by the provisions of this
paragraph applicable to the taxable year in which such sale
was made.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
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