A bill to amend the Internal Revenue Code of 1954 to encourage greater investment in independent small businesses.
Small Business Reinvestment Act - Amends the Internal Revenue Code to provide that if an equity or proprietary interest is sold, gain from such sale shall be recognized only to the extent that the sale price exceeds the cost of an equity or proprietary interest in a small business purchased within two years from the date of the sale.
Introduced in Senate
Referred to Senate Committee on Finance.
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