A bill to amend the Internal Revenue Code of 1954 to encourage the continued investment of equity capital in independent small businesses.
Small Business and Farms Capital Preservation Act - Amends the Internal Revenue Code to allow an individual who has held an equity or unsecured investment in a small business concern for 12 months or longer to elect nonrecognition of any gain from the sale of such investment to the extent such gain is reinvested in a small business concern.
Introduced in Senate
Referred to Senate Committee on Finance.
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