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HR 1124 105th Congress House

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
Taxation Business income taxCapital gains taxCommerceCorporation taxes
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Finance and Financial SectorIncome taxInterestLawMutual fundsPartnershipsPersonal income taxReal estate investmentSmall businessTax deductionsTrusts and trustees
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action March 19, 1997

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Graham, Lindsey
South Carolina · Jul 10, 1997
 R
Sessions, Pete
Texas · May 22, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1124: To amend the Internal Revenue Code of 1986 to provide that no capital gains tax shall apply to individuals or corporations.. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1124/
MLA
"H.R. 1124: To amend the Internal Revenue Code of 1986 to provide that no capital gains tax shall apply to individuals or corporations.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1124/.
Bluebook (legal)
H.R. 1124, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1124/.
Markdown link
[H.R. 1124: To amend the Internal Revenue Code of 1986 to provide that no capital gains tax shall apply to individuals or corporations.](https://openamerica.io/bill/105-HR-1124/)
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