[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4876 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4876

 To amend the Internal Revenue Code of 1986 to increase the exclusion 
  for gain from certain small business stock to 100 percent for stock 
                      held for more than 10 years.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 1, 1994

Mr. McHale (for himself and Mr. McInnis) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the exclusion 
  for gain from certain small business stock to 100 percent for stock 
                      held for more than 10 years.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Capital Gains Exclusion Expansion 
Act of 1994''.

SEC. 2. 100 PERCENT EXCLUSION FOR GAIN FROM CERTAIN SMALL BUSINESS 
              STOCK HELD FOR MORE THAN 10 YEARS.

    (a) In General.--Subsection (a) of section 1202 of the Internal 
Revenue Code of 1986 (relating to 50-percent exclusion for gain from 
certain small business stock) is amended by adding at the end the 
following: ``In the case of qualified small business stock held for 
more than 10 years, the preceding sentence shall be applied by 
substituting `100 percent' for `50 percent'. Subsections (g)(2) and 
(h)(1) shall be applied by substituting `10 years' for `5 years' for 
purposes of determining whether stock is described in the preceding 
sentence.''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to stock issued after August 10, 1993.
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