There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/13/2014)

Amends the Internal Revenue Code to: (1) make permanent the tax exclusion of gain from the sale or exchange of small business stock; and (2) exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity.

Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. Designates a high technology research entity as a small business if such entity has 250 or fewer full-time employees and does not have aggregate gross assets in excess of $150 million.