PoliticalRepoPoliticalRepo

United States · Bill · S

S. 1666 (98th)

Capital Formation Tax Act of 1983

openUnited States· United States Congress· EN

Introduced

21 July 1983

Last action

19 September 1983 · Committee

Status

Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-537.

Sponsors

Sen. Chafee, John H. [R-RI], Sen. Bentsen, Lloyd M. [D-TX], Sen. Durenberger, Dave [R-MN], Sen. Boren, David L. [D-OK], Sen. Wallop, Malcolm [R-WY], Sen. Pryor, David H. [D-AR], Rep. Cohen, William S. [R-ME-2], Sen. Nunn, Sam [D-GA], Sen. D'Amato, Alfonse [R-NY], Sen. Denton, Jeremiah [R-AL], Sen. Pell, Claiborne [D-RI], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Simpson, Alan K. [R-WY], Sen. Boschwitz, Rudy [R-MN]

Subjects

Taxation

Source updated

29 August 2025

Taxation

Official sourceView documentsShare

Summary

Capital Formation Tax Act of 1983 - Amends the Internal Revenue Code to increase the income tax deduction for net capital gains to 80 percent on the sale of stock if the following requirements are met: (1) the stock must be purchased through an initial stock offering; (2) the stock must be purchased from the initial offeror, underwriter, broker, or agent; (3) the stock must represent contributions to capital or paid-in surplus; and (4) the stock must have been held for at least five years at the time of the sale or exchange.

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

Timeline

  1. 21 July 1983

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 21 July 1983

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 26 July 1983

    Committee

    Committee on Finance requested executive comment from OMB, Treasury Department.

    Source: Committee

  4. 19 September 1983

    Committee

    Subcommittee on Savings, Pensions, and Investment. Hearings held. Hearings printed: S.Hrg. 98-537.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Sponsors

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.