S. 1214 · 110th Congress
Invest in Small Business Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KerrySponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Invest in Small Business Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 75 % of such gain and to reduce the required holding period for such stock from five to four years; (2) allow a 100% exclusion of gain from such stock sold by…
What it does: CRS summary · Introduced in Senate · Apr 25, 2007
Invest in Small Business Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 75 % of such gain and to reduce the required holding period for such stock from five to four years; (2) allow a 100% exclusion of gain from such stock sold by a business in an empowerment zone; (3) deny a tax exclusion for small business stock held by a 25% controlled corporate group; (4) repeal as an item of tax preference under the alternative minimum tax the exclusion of gain from the sale of small business stock; (5) repeal the 28% income tax rate on the gain from the sale of small business stock which is not excluded from gross income; (6) revise the definition of "qualified small business" for certain tax purposes to mean a C corporation with aggregate gross assets not exceeding $100 million (currently, $50 million); and (7) provide for an annual inflation adjustment to the small business aggregate gross asset amount after 2007.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Invest in Small Business Act of 2007
Latest action (Apr 25, 2007): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5100-5101)
Policy area: Taxation · Origin: Senate · Introduced: Apr 25, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.