HR 1124
105th Congress
House
Taxation
Business income tax
Capital gains tax
Commerce
Corporation taxes
Finance and Financial Sector
Income tax
Interest
Law
Mutual funds
Partnerships
Personal income tax
Real estate investment
Small business
Tax deductions
Trusts and trustees
To amend the Internal Revenue Code of 1986 to provide that no capital gains tax shall apply to individuals or corporations.
Introduced: March 19, 1997
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 19, 1997
Referred to the House Committee on Ways and Means.
Mar 19, 1997
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to replace provisions relating to an alternative tax for corporations on capital gains with provisions making 100 percent of the net capital gain of a taxpayer a deduction from gross income. Provides for the treatment of estates and trusts. Requires reducing net capital gain by the amount the taxpayer takes into account as investment income under specified provisions.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1