legislation: 93-s-2629

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
93-s-2629 93 s 2629 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. Commerce 1973-10-30 1973-10-30 Referred to Senate Committee on Finance. Senate Sen. Sparkman, John J. [D-AL] AL D S000701 0 Provides special rules for small business investment companies under the Internal Revenue Code. States that a small business investment company licensed under the Small Business Investment Act shall be considered a regulated investment company, provided that at the close of each taxable year: (1) at least 50 percent of the value of its total assets is represented by specified cash items and securities; and (2) not more than 25 percent of the value of its total assets is invested in the securities of any one issuer, or of two or more issuers which the taxpayer controls and which are engaged in similar or related trades or businesses. 2024-08-01T18:42:04Z https://www.congress.gov/bill/93rd-congress/senate-bill/2629

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