Business Incentives Act of 1979

Summary

Business Incentives Act of 1979 - Amends the Internal Revenue Code to permit the depreciation of tangible personal property with a basis of less than $100,000 on a 36 month basis under the straight line method. Provides for the limited nonrecognition of gain from the sale of an interest in business property, if within a two year period from the date of such sale, replacement property is purchased by the taxpayer. Limits such nonrecognition to the extent that the taxpayer's sale price does not exceed the cost to the taxpayer of the replacement property. Amends the Securities Act of 1933 to raise the amount of stock issue that is exempt from registration from $2,000,000 to $3,000,000.

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1 official file

• Introduced in House

  summary · EN · 24 May 1979

  Open at official source

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