S 889 · 97th Congress · Taxation

American Innovation and Employee Stock Ownership Act of 1981

Introduced 1981-04-07· Sponsored by Sen. Long, Russell B. [D-LA]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1981-04-09)

Plain Language Summary

[AI summary unavailable — showing source text] American Innovation and Employee Stock Ownership Act of 1981 - 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, employee ownership, and research and development expenditures.…

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

Cosponsors (3)

1 Democrat2 Republicans
Sen. Roth Jr., William V. [R-DE]DE
Sen. Bentsen, Lloyd M. [D-TX]TX
Sen. Wallop, Malcolm [R-WY]WY