To amend the Internal Revenue Code of 1986 to extend permanently the 100 percent exclusion of gain from the sale or exchange of qualified small business stock.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to: (1) allow a permanent 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock held for more than 5 years, (2) eliminate such tax exclusion as an item of tax preference for alternative minimum tax (AMT) purposes, and (3) repeal the 28% capital gains tax rate on qualified small business stock.…