Capital Gains Incentive Act of 1991

Capital Gains Incentive Act of 1991 - Amends the Internal Revenue Code to allow a variable capital gains deduction for a taxpayer other than a corporation based upon capital assets held from one to seven years.

Requires indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss.