legislation: 95-hr-13620

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
95-hr-13620 95 hr 13620 Business Incentives Act Commerce 1978-07-27 1978-07-27 Referred to House Committee on Ways and Means. House Rep. Gilman, Benjamin A. [R-NY-26] NY R G000212 0 Business Incentives Act - Amends the Internal Revenue Code to permit a taxpayer, in calculating depreciation allowances of property, to apply a three year useful life computed under the straight-line method for up to $100,000 of the basis of such property. Treats a controlled group of corporations as a single taxpayer for purposes of computing the depreciation allowance. Allows a limited nonrecognition of the gain from a sale or exchange of equity or proprietary interest in a business if the taxpayer purchases a replacement interest in a small business concern within two years of the sale or exchange. Lowers the basis of such replacement interest by the amount of gain not recognized. Amends the Securities Act of 1933 to increase the small offering exemption to $3,000,000. 2025-09-02T17:11:17Z  

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