To amend the Internal Revenue Code of 1986 to increase and modify the exclusion relating to qualified small business stock and to provide that the exclusion relating to incentive stock options will no longer be a minimum tax preference.

Fact Sheet API

Bill Number

HR 2383

Introduced

Jun 28, 2001

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Business income tax Capital gains tax Commerce Corporation taxes Cost of living adjustments Economics and Public Finance Employee stock options Finance and Financial Sector Income tax Indexing (Economic policy) Labor and Employment Minimum tax Personal income tax Small business Stock repurchasing Stocks Tax exclusion Taxation

Full Text

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Votes

Summary

Increases from 50 to 100 percent the amount of gain excluded from the sale of certain small business stock. Reduces from five to three years the holding period applicable to such a sale. Makes such exclusion available to corporations. Makes the stock of larger businesses eligible.

Repeals the minimum tax preference for the exclusion for incentive stock options.

Actions

Jun 28, 2001

Referred to the House Committee on Ways and Means.
Jun 28, 2001

Introduced in House

Amendments

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