S 455 · 107th Congress 2001–2003, ended

Encouraging Investment in Small Business Act

Introduced Mar 5, 2001 Originated Senate Sponsor Susan M. Collins R-ME

Fact sheet

Latest action · Mar 5, 2001 Read twice and referred to the Committee on Finance.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedMar 5, 2001
Passed SenateNot reached
Passed HouseNot reached
To the PresidentNot reached
Became lawNot reached

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.

Cosponsors 9

Members who signed on, in the order they did. Signatures ran from Mar 5, 2001 to Nov 8, 2001, with 8 there on the day it was introduced.

Seat	Cosponsor		Signed on
D-LA	John B. Breaux	Original	Mar 5, 2001
D-CT	Joseph I. Lieberman	Original	Mar 5, 2001
R-RI	Lincoln Chafee	Original	Mar 5, 2001
D-LA	Mary L. Landrieu	Original	Mar 5, 2001
D-GA	Max Cleland	Original	Mar 5, 2001
R-UT	Orrin G. Hatch	Original	Mar 5, 2001
R-AR	Tim Hutchinson	Original	Mar 5, 2001
R-CO	Wayne Allard	Original	Mar 5, 2001
D-DE	Thomas R. Carper		Nov 8, 2001

Actions 3

Everything that happened, newest first.

Mar 5, 2001Introduced in Senate
Mar 5, 2001Read twice and referred to the Committee on Finance.
Mar 5, 2001Sponsor introductory remarks on measure. (CR S1824-1826)

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.