A bill to amend the Internal Revenue Code of 1954 to provide for the nonrecognition of gain on the proceeds from the sale of small business stock to an ESOP of those proceeds are reinvested in such stock.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide for the nonrecognition of gain from the sale of small business stock to an employee stock ownership plan if the proceeds from such a sale are reinvested in small business stock within 18 months of the date of the sale. Specifies that gain will be recognized to the extent that the proceeds of the sale exceed the cost of the subsequently purchased small business stock.…