Summary: H.R.6300 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.6300. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/24/1980)

Individual Investors' Incentive Act of 1980 - Amends the Internal Revenue Code to allow individual taxpayers a nonrefundable income tax credit equal to ten percent of the cost of corporate securities purchased by such taxpayer during the taxable year. Limits the dollar amount of such credit to $1,000 ($2,000 for married individuals filing jointly). Requires the recapture of specified amounts of such credit if any securities for which the credit is allowed are disposed of by the taxpayer within one year of their purchase. Disqualifies estates, trusts, and nonresident aliens from eligibility for the credit.