Capital Gains Tax Simplification Act of 1999

Summary

Capital Gains Tax Simplification Act of 1999 - Amends the Internal Revenue Code to provide that, if for any taxable year a non-corporate taxpayer has a net capital gain, 38 percent of such gain shall be a deduction from gross income regardless of whether or not the taxpayer itemizes other deductions. Makes such deduction inapplicable to the alternative minimum tax. Revises provisions concerning the maximum and the regular tax on net capital gain for purposes of the alternative minimum tax. Repeals the tax preference for exclusion for gains on the sale of certain small business stock. Treats, as a general rule, any gain or loss from the sale or exchange of a collectible as a short-term gain or loss without regard to the period the asset was held. Amends the Taxpayer Relief Act of 1997, with respect to maximum capital gains rates for individuals, to repeal the allowance of an election to recognize gain on assets held on January 1, 2001.

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Timeline

1. 14 April 1999

   Introduced

   Introduced in House

   Source: IntroReferral

2. 14 April 1999

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 14 April 1999

   Introduced

   Sponsor introductory remarks on measure. (CR E635)

   Source: IntroReferral

4. 14 April 1999

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 April 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 April 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 April 1999

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 14 April 1999

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Coyne, William J. [D-PA-14] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. Lewis, John [D-GA-5] · D · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Wolf, Frank R. [R-VA-10] · R · Cosponsor
• Rep. Thurman, Karen L. [D-FL-5] · D · Cosponsor
• Rep. McGovern, James P. [D-MA-2] · D · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Holt, Rush [D-NJ-12] · D · Cosponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Cosponsor
• · hswm00 · Standing

Related records

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