Seniors' Family Business Enhancement Act

Key: what the circles and colors mean

Each circle is a bill. The ring fills as it moves through Congress:

IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.

Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.

Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D AndrewsSponsor

No cosponsors.

What it does: CRS summary · Introduced in House · Jul 27, 2005

Seniors' Family Business Enhancement Act - Amends the Internal Revenue Code to grant an individual a one-time exclusion from gross income of the gain from the sale or exchange of a qualified interest in a closely held business if: (1) the individual has attained the age of 62 before the date of the sale or exchange; (2) the adjusted gross income of the individual for the tax year in which such sale or exchange occurs does not exceed $1 million (determined without regard to such sale or exchange); and (3) the individual so elects.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Seniors' Family Business Enhancement Act

Latest action (Jul 27, 2005): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jul 27, 2005

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.