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        <title>To amend the Internal Revenue Code of 1986 to reduce the recognition period for built-in gains for subchapter S corporations.</title>
        <congress>109</congress>
        <number>2239</number>
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        <text>Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4581)</text>
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        <actionDate>2005-04-28</actionDate>
        <text>Sponsor introductory remarks on measure. (CR S4580-4581)</text>
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        <fullName>Sen. Smith, Gordon H. [R-OR]</fullName>
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        <fullName>Sen. Isakson, Johnny [R-GA]</fullName>
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        <lastName>Isakson</lastName>
        <party>R</party>
        <state>GA</state>
        <sponsorshipDate>2006-06-19</sponsorshipDate>
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        <fullName>Sen. Snowe, Olympia J. [R-ME]</fullName>
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        <fullName>Sen. Durbin, Richard J. [D-IL]</fullName>
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        <state>IL</state>
        <middleName>J.</middleName>
        <sponsorshipDate>2006-09-25</sponsorshipDate>
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        <fullName>Sen. Pryor, Mark L. [D-AR]</fullName>
        <firstName>Mark</firstName>
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        <state>AR</state>
        <middleName>Lunsford</middleName>
        <sponsorshipDate>2006-09-25</sponsorshipDate>
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        <actionDate>2005-04-28</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2005-06-04T16:58:40Z</updateDate>
        <text><![CDATA[ <p>Amends the Internal Revenue Code to reduce from ten to seven years the period during which certain built-in gains of subchapter S corporations are subject to tax.</p>]]></text>
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    </summaries>
    <title>A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-in gains for subchapter S corporations.</title>
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        <title>A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-in gains for subchapter S corporations.</title>
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        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-in gains for subchapter S corporations.</title>
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        <date>2005-04-28T04:00:00Z</date>
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    <latestAction>
      <actionDate>2005-04-28</actionDate>
      <text>Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4581)</text>
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    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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