Summary: H.R.5691 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.5691. Bill summaries are authored by CRS.

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Introduced in House (07/01/2010)

Amends the Internal Revenue Code to allow individual taxpayers a tax credit for 20% of their qualified small business investments. Defines "qualified small business investment" as any stock in a domestic corporation acquired at its original issue or any capital or profits interest in a domestic partnership if: (1) such stock or interest was acquired solely in exchange for cash; and either (2) such corporation or partnership has been in existence less than 2 years as of the date of such acquisition or such corporation or partnership had at least a 10% growth rate for each of the 2 years preceding such acquisition.