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- S.72
S.72: Capital Gains Reform Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Jan. 21, 1997
- Latest Major Action Jan. 21, 1997
Bill Sponsor
Bill Cosponsors
5 (All Republicans)
Bill Summary
Capital Gains Reform Act of 1997 - Amends the Internal Revenue Code to revise rules concerning capital gain for taxpayers other than corporations to establish a new general rule which provides that if for any taxable year a taxpayer other than a corporation has a capital gain, 70 percent of such gain shall be a deduction from gross income. Reduces the alternative capital gain tax for corporations.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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Jan. 21, 1997 |
Introduced in the Senate by Jon Kyl (R-Ariz.) |