S 2498 · 95th Congress · Taxation

Small Business Reinvestment Act

Introduced 1978-02-06· Sponsored by Sen. Chafee, John H. [R-RI]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1978-02-06)

Plain Language Summary

[AI summary unavailable — showing source text] Small Business Reinvestment Act - Amends the Internal Revenue Code to provide that if an equity or proprietary interest is sold, gain from such sale shall be recognized only to the extent that the sale price exceeds the cost of an equity or proprietary interest in a small business purchased within two years from the date of the sale.…

Summarized by Claude AI · Non-partisan · For informational purposes only