A bill to amend the Internal Revenue Code of 1954 to reduce the capital gains tax on the sale of certain interests in qualified small corporations.
American Innovation and Employee Stock Ownership Act of 1981 - Amends the Internal Revenue Code to reduce the rate of tax on the net capital gains of individuals and corporations which realize gain from the sale of qualified securities issued by small business corporations. Defines "qualified securities" as stock or securities issued by corporations which meet specified requirements relating to size, employee ownership, and research and development expenditures.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department.
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