S 455
107th Congress
Senate
Taxation
Agriculture and Food
Aquaculture
Biotechnology
Business income tax
Capital gains tax
Commerce
Corporation taxes
Finance and Financial Sector
Health
Income tax
Minimum tax
Personal income tax
Science, Technology, Communications
Small business
Stock repurchasing
Stocks
Tax exclusion
Tax rates
Encouraging Investment in Small Business Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2001
Read twice and referred to the Committee on Finance.
Mar 5, 2001
Sponsor introductory remarks on measure. (CR S1824-1826)
Mar 5, 2001
Introduced in Senate
Plain-English summary
Encouraging Investment in Small Business Act - Amends the Internal Revenue Code with respect to qualified small business (QSB) stock (section 1202) to: (1) increase the amount of gain excluded from the sale of such stock to 75 percent; (2) reduce the holding period applicable to such sale to three years; (3) exclude such gain from alternative minimum tax consideration; (4) increase the active business working capital requirement to five years; (5) permit a QSB to make specified purchases of its own stock without losing the gain exclusion if made for a business purpose; (6) exclude biotechnology and aquaculture businesses from QSB status; (7) increase the cap on eligible gain for joint returns to $20,000; (8) reduce the capital gains rate for such gains; and (9) increase the related rollover period to 180 days.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1