Small Investors Tax Relief Act of 1994

Summary

Small Investors Tax Relief Act of 1994 - Amends the Internal Revenue Code to provide a partial exclusion of dividends or interest received by an individual. Requires indexing of certain assets (corporate stock, certain tangible property, and a principal residence) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Reduces the capital gains tax for individuals. Allows as a capital gains deduction an amount equal to the lesser of: (1) the net capital gain; or (2) $50,000 ($100,000 in the case of a joint return).

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Timeline

1. 19 July 1994

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 19 July 1994

   Introduced

   Sponsor introductory remarks on measure. (CR E1501-1502)

   Source: IntroReferral

3. 19 July 1994

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 July 1994

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 July 1994 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 July 1994

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 July 1994

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 July 1994

  Open at official source

Sponsors

• Rep. Manzullo, Donald A. [R-IL-16] · R · Sponsor
• Rep. Livingston, Bob [R-LA-1] · R · Sponsor
• Rep. Levy, David A. [R-NY-4] · R · Sponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-9] · R · Sponsor
• Rep. McHugh, John M. [R-NY-23] · R · Sponsor
• Rep. Canady, Charles T. [R-FL-12] · R · Sponsor
• Rep. Packard, Ron [R-CA-43] · R · Sponsor
• Rep. Gunderson, Steve [R-WI-3] · R · Cosponsor
• Rep. Zeliff, William H., Jr. [R-NH-1] · R · Cosponsor
• Rep. Dornan, Robert K. [R-CA-38] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Small Investors Tax Relief Act of 1994