Stockholders Investment Act

Stockholders Investment Act - Provides, under provisions of the Internal Revenue Code relating to pension, profit-sharing, and stock bonus plans, that no pension manager shall invest or sell any of the pension trust assets over which he has discretionary investment authority in the securities of any corporation with a capital account of more than $25,000,000 if that investment or sale would result in the investment of: (1) more than 5 percent of the value of all pension trust assets managed by him in the securities of any corporation, or (2) such assets in more than 10 percent of any class of security of any corporation.

Defines the terms used in this Act, including those of "pension manager" and "security." Imposes on each pension manager a tax of 5 percent of the amount of each investment made by him during his taxable year in violation of the provisions relating to limitations on pension trust asset investment.

Distinguishes venture capital from pension trust assets for purposes of this Act. Provides for a graduated taxation of capital gain and revises the treatment of capital losses.

Provides that in the case of a taxpayer other than a corporation, a percentage of the gain from the sale or exchange of a capital asset held for more than 12 months shall be excluded from gross income. Prescribes the procedure for determination of such percentage. Provides for the nonrecognition of specified gains and losses under the Internal Revenue Code.