Seniors' Family Business Enhancement Act

Summary

Seniors' Family Business Enhancement Act - Amends the Internal Revenue Code to grant an individual a one-time exclusion from gross income of the gain from the sale or exchange of a qualified interest in a closely held business if: (1) the individual has attained the age of 62 before the date of the sale or exchange; (2) the adjusted gross income of the individual for the tax year in which such sale or exchange occurs does not exceed $1 million (determined without regard to such sale or exchange); and (3) the individual so elects.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 July 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 July 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 July 2005

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.