H.R.2707 - Entrepreneurial Equity Capital Formation Act105th Congress (1997-1998)
|Sponsor:||Rep. Jefferson, William J. [D-LA-2] (Introduced 10/23/1997)|
|Committees:||House - Ways and Means|
|Latest Action:||10/23/1997 Referred to the House Committee on Ways and Means.|
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Summary: H.R.2707 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in House (10/23/1997)
TABLE OF CONTENTS:
Title I: Tax-Free Conversions of Specialized Small Business
Investment Companies Into Pass-Thru Entities
Title II: Additional Incentives Related to Investing in
Specialized Small Business Investment Companies
Entrepreneurial Equity Capital Formation Act - Title I: Tax-Free Conversions of Specialized Small Business Investment Companies Into Pass-Thru Entities - Amends the Internal Revenue Code to set forth special rules for determining whether a specialized small business investment company is a regulated investment company, to define such a company, to waive the distribution requirement for such a company, and to disregard certain earnings and profits of such a company.
Permits the tax-free reorganization of a specialized small investment company as a partnership if the reorganization is carried out within a specified time period following enactment and other specified conditions are met.
Title II: Additional Incentives Related to Investing in Specialized Small Business Investment Companies - Sets forth additional tax incentives for investing in specialized small business investment companies.