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United States · Bill · S

S. 959 (104th)

Capital Formation Act of 1995

referredUnited States· United States Congress· EN

Introduced

22 June 1995

Last action

22 June 1995 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Hatch, Orrin G. [R-UT], Sen. Lieberman, Joseph I. [ID-CT], Sen. Faircloth, Lauch [R-NC], Sen. D'Amato, Alfonse [R-NY], Sen. Kempthorne, Dirk [R-ID], Sen. Breaux, John B. [D-LA], Sen. Bennett, Robert F. [R-UT], Sen. Santorum, Rick [R-PA], Sen. Pell, Claiborne [D-RI], Sen. Helms, Jesse [R-NC], Sen. Grams, Rod [R-MN], Sen. Cochran, Thad [R-MS], Sen. Nickles, Don [R-OK], Sen. Coverdell, Paul [R-GA], Sen. Thurmond, Strom [R-SC], Sen. Grassley, Chuck [R-IA], Sen. Craig, Larry E. [R-ID], Sen. Frist, William H. [R-TN], Sen. Hutchison, Kay Bailey [R-TX], Sen. Stevens, Ted [R-AK], Sen. Thompson, Fred [R-TN], Sen. Smith, Bob [R-NH], Sen. Gramm, Phil [R-TX], Sen. Simpson, Alan K. [R-WY], Sen. Roth Jr., William V. [R-DE], Sen. Campbell, Ben Nighthorse [R-CO], Sen. DeWine, Mike [R-OH], Sen. Lugar, Richard G. [R-IN], Sen. Lott, Trent [R-MS], Sen. Ashcroft, John [R-MO], Sen. Murkowski, Frank H. [R-AK], Sen. McCain, John [R-AZ], Sen. McConnell, Mitch [R-KY], Sen. Brown, Hank [R-CO], Sen. Thomas, Craig [R-WY], Sen. Specter, Arlen [R-PA], Sen. Burns, Conrad R. [R-MT], Sen. Shelby, Richard C. [R-AL], Sen. Gregg, Judd [R-NH], Sen. Pressler, Larry [R-SD], Sen. Kyl, Jon [R-AZ], Sen. Coats, Daniel [R-IN], Sen. Johnston, J. Bennett [D-LA], Sen. Inhofe, James M. [R-OK], Sen. Warner, John [R-VA]

Subjects

Taxation

Source updated

21 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

TABLE OF CONTENTS: Title I: Capital Gains Reform Subtitle A: Capital Gains Deduction for Taxpayers Other Than Corporations Subtitle B: Capital Gains Reduction for Corporations Subtitle C: Capital Loss Deduction Allowed With Respect to Sale or Exchange of Principal Residence Title II: Small Business Venture Capital Stock Capital Formation Act of 1995 - Title I: Capital Gains Reform - Subtitle A: Capital Gains Deduction for Taxpayers Other Than Corporations - Amends the Internal Revenue Code to make, for noncorporate taxpayers, 50 percent of net capital gains deductible from gross income. Allows the deduction in computing adjusted gross income. Subtitle B: Capital Gains Reduction for Corporations - Revises requirements regarding alternative capital gains taxes for corporations. Subtitle C: Capital Loss Deduction Allowed With Respect to Sale or Exchange of Principal Residence - Allows an individual to deduct losses arising from the sale or exchange of the taxpayer's principal residence. Title II: Small Business Venture Capital Stock - Increases from 50 percent to 75 percent the exclusion of any gain from the sale or exchange of qualified small business stock held more than five years and applies the exclusion to corporate as well as noncorporate taxpayers. Removes provisions including, as an item of tax preference, a specified percentage of gains on the sale of certain small business stock. Increases the dollar gross asset limits domestic C corporations must not exceed in order to qualify for the exclusion as small businesses and institutes an inflation adjustment for those limits. Removes provisions relating to a per-issuer limitation on a taxpayer's eligible gain. Modifies: (1) working capital provisions and the definition of "qualified trade or business," both with regard to meeting the active business requirement; and (2) requirements regarding purchases by a corporation of its own stock. Recognizes, if the taxpayer so elects, eligible gain from the sale of qualified small business stock only to the extent that the amount realized exceeds specified factors.

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

Timeline

  1. 22 June 1995

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 22 June 1995

    Introduced

    Sponsor introductory remarks on measure. (CR S8949-8950)

    Source: IntroReferral

  3. 22 June 1995

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 22 June 1995

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 22 June 1995

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  • Introduced in Senate

    summary · EN · 22 June 1995

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Sponsors

Related records

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Sources

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