H.R.14788 - A bill to amend the Internal Revenue Code of 1954 with respect to the income tax treatment of small business investment companies and shareholders in such companies.93rd Congress (1973-1974)
|Sponsor:||Rep. Stephens, Robert G., Jr. [D-GA-10] (Introduced 05/14/1974)|
|Committees:||House - Ways and Means|
|Latest Action:||05/14/1974 Referred to House Committee on Ways and Means.|
This bill has the status Introduced
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Summary: H.R.14788 — 93rd Congress (1973-1974)All Bill Information (Except Text)
Introduced in House (05/14/1974)
Applies Internal Revenue Code provisions relating to regulated investment companies to small business investment companies regulated by the Small Business Investment Act and which have made or are making a public offering of their securities.
Prescribes conditions under which such companies may choose to meet differing standards defining regulated investment companies, including the requirement that at the close of each quarter at lest 50 percent of the value of such companies' assets be represented by cash and cash items, Government securities and securities of other regulated investment companies.