,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ddec  ,,in ,,the ,,house ,,of  
,,representatives  ,april #aj1 #bjad    
,mr4 ,reichert 7for himself and ,mr4    
,kind7 introduced the following bill2   
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf to
 make permanent the reduced recognition 
period for built-in gains of ,s         
corporations4  #a4 ,reduced recognition 
period for built-in gains of ,s         
corporations made permanent  7a7 ,in    
general ,paragraph 7#g7 of section      
#acgd7;d7 of the ,internal ,revenue     
,code of #aihf is amended to read as    
follows3  7#g7 ,recognition period  7,a7
 ,in general ,the term recognition      
period means the #e-year period         
beginning with the #ast day of the #ast 
taxable year for which the corporation  
was an ,s corporation4 ,for purposes of 
applying this section to any amount     
includible in income by reason of       
distributions to shareholders pursuant  

to section #eic7;e71 the preceding      
sentence shall be applied without regard
 to the phrase #e-year4  7,b7           
,installment sales ,if an ,s corporation
 sells an asset and reports the income  
from the sale using the installment     
method under section #dec1 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 made4  4  7b7   
,effective date ,the amendment made by  
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjac4