A bill to amend the Internal Revenue Code of 1954 with respect to the income tax treatment of small business investment companies and shareholders in such companies.

Summary

Applies Internal Revenue Code provisions relating to regulated investment companies to small business investment companies regulated by the Small Business Investment Act and which have made or are making a public offering of their securities. Prescribes conditions under which such companies may choose to meet differing standards defining regulated investment companies, including the requirement that at the close of each quarter at lest 50 percent of the value of such companies' assets be represented by cash and cash items, Government securities and securities of other regulated investment companies.

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Documents

1 official file

• Introduced in House

  summary · EN · 14 May 1974

  Open at official source

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