Minority and Women Capital Formation Act of 1997

Summary

Minority and Women Capital Formation Act of 1997 - Amends the Internal Revenue Code to establish a limited deduction of an amount equal to the sum of the aggregate bases of qualified minority fund interests and qualified women's fund interests which are acquired by a taxpayer during the taxable year at original issuance and are held at the close of such taxable year. Establishes a limited deduction of an amount equal to the sum of the aggregate bases of small minority business stock and small women's business corporations which are acquired by a taxpayer during the taxable year at original issuance and are held at the close of such taxable year. Permits a taxpayer to elect a limited credit in lieu of either deduction. Sets forth recapture provisions. Provides for the treatment of capital gains on such investments.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 23 April 1997

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 23 April 1997

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• Introduced in Senate

  summary · EN · 23 April 1997

  Open at official source

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