HR 8424 · 96th Congress · Taxation
American Innovation Tax Incentive Act of 1980
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1980-12-04)
Plain Language Summary
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American Innovation Tax Incentive Act of 1980 - Amends the Internal Revenue Code to reduce the rate of tax on the net capital gains of individuals and corporations which realize gain from the sale of qualified securities issued by small business corporations. Defines "qualified securities" as stock or securities issued by corporations which meet specified requirements relating to size and employee ownership.…
Summarized by Claude AI · Non-partisan · For informational purposes only