Enhancing Investment in Small Businesses Act of 2010

Enhancing Investment in Small Businesses Act of 2010 - Amends the Internal Revenue Code to allow an exclusion from gross income of all gain from the sale or exchange of qualified small business stock held for more than five years.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4663 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4663

 To amend the Internal Revenue Code of 1986 to provide for a permanent 
         exclusion of all gain on certain small business stock.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 23, 2010

  Ms. Kosmas introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide for a permanent 
         exclusion of all gain on certain small business stock.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Enhancing Investment in Small 
Businesses Act of 2010''.

SEC. 2. PERMANENT EXCLUSION OF ALL GAIN ON CERTAIN SMALL BUSINESS 
              STOCK.

    (a) In General.--Subsection (a) of section 1202 of the Internal 
Revenue Code of 1986 (relating partial exclusion for gain from certain 
small business stock) is amended to read as follows:
    ``(a) Exclusion.--In the case of a taxpayer other than a 
corporation, gross income shall not include any gain from the sale or 
exchange of qualified small business stock held for more than 5 
years.''.
    (b) Conforming Amendments.--
            (1) Section 1(h) of such Code is amended--
                    (A) in paragraph (4) by amending subparagraph (A) 
                to read as follows:
                    ``(A) collectibles gain, over''; and
                    (B) by striking paragraph (7).
            (2) Section 57(a) of such Code is amended by striking 
        paragraph (7).
            (3) The heading for section 1202 of such Code is amended by 
        striking ``partial''.
            (4) The item relating to section 1202 in the table of 
        sections for part I of subchapter P of chapter 1 of such Code 
        is amended by striking ``Partial exclusion'' and inserting 
        ``Exclusion''.
    (c) Effective Date.--The amendments made by this section shall 
apply to stock acquired after February 17, 2009.
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