United States · Bill · S
S. 3060 (96th)
A bill to amend the Internal Revenue Code of 1954 to exempt from income tax the capital gain from the first resale of new capacity stock.
Introduced
22 August 1980
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
14 June 2021
Summary
Amends the Internal Revenue Code to exclude from the gross income of an individual gain from the first sale of new capacity stock by the taxpayer first acquiring it from the issuer (other than a broker or dealer in securities acquiring such stock in the ordinary course of business for public sale). Defines "new capacity stock" as stock issued after September 1, 1980, the proceeds from the sale of which by the issuer are dedicated to, and used exclusively for, investment in depreciable machinery and equipment.
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
1 official file
Introduced in Senate
summary · EN · 22 August 1980
Sponsors
No sponsors or actors listed by the source.
Related records
No cross-record relationships stored yet.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/96th-congress/senate-bill/3060
- Open data entity: https://api.congress.gov/v3/bill/96/s/3060