To amend the Internal Revenue Code of 1986 to allow individuals an exlusion from gross income for certain amounts of capital gains distributions from regulated investment companies.

Fact Sheet API

Bill Number

HR 300

Introduced

Jan 30, 2001

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Capital gains tax Cost of living adjustments Dividends Economics and Public Finance Finance and Financial Sector Income tax Indexing (Economic policy) Mutual funds Personal income tax Saving and investment Tax exclusion Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to exclude, subject to a $5,000 maximum exclusion (double for a joint return), from gross income a capital gain dividend: (1) which is distributed by a regulated investment company; and (2) which is automatically reinvested by the company in the stock of such company with respect to which the dividend is distributed.

Actions

Jan 30, 2001

Referred to the House Committee on Ways and Means.
Jan 30, 2001

Introduced in House

Amendments

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