H. R. 4663
IN THE HOUSE OF REPRESENTATIVES
February 23, 2010
Ms. Kosmas introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to provide for a permanent exclusion of all gain on certain small business stock.
This Act may be cited as the
Enhancing Investment in Small
Businesses Act of 2010.
Permanent exclusion of all gain on certain small business stock
Subsection (a) of section 1202 of the Internal Revenue Code of 1986 (relating partial exclusion for gain from certain small business stock) is amended to read as follows:
In the case of a taxpayer other than a corporation, gross income shall not include any gain from the sale or exchange of qualified small business stock held for more than 5 years.
Section 1(h) of such Code is amended—
in paragraph (4) by amending subparagraph (A) to read as follows:
collectibles gain, over
by striking paragraph (7).
Section 57(a) of such Code is amended by striking paragraph (7).
The heading for
section 1202 of such Code is amended by striking
The item relating
to section 1202 in the table of sections for part I of subchapter P of chapter
1 of such Code is amended by striking
Partial exclusion and
The amendments made by this section shall apply to stock acquired after February 17, 2009.