A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the value of stock received under qualified dividend reinvestment plans.

Amends the Internal Revenue Code to exclude from gross income a corporate stock distribution to a stockholder based upon the reinvestment of stock dividends in the corporation by such stockholder pursuant to his election to participate in a qualified reinvestment plan, as defined in this Act.

Limits the amount of any stock distribution to $1,500. Establishes a rebuttable presumption that a distribution made by a corporation which purchases its common stock within one year of such distribution shall not be deemed a distribution pursuant to a qualified dividend reinvestment.