US HB4877 | 2009-2010 | 111th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Introduced on March 18 2010 - 25% progression, died in committee
Action: 2010-03-18 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 18 2010 - 25% progression, died in committee
Action: 2010-03-18 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Community Bank and Automotive Industry Recapitalization Act of 2010 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of qualified investment property acquired within 18 months after the enactment of this Act and held for more than five years. Defines "qualified investment property" as original issue stock in a community bank with less than $10 billion in assets or an automotive company.
Title
Community Bank and Automotive Industry Recapitalization Act of 2010
Sponsors
| Rep. Mike Coffman [R-CO] | Rep. Suzanne Kosmas [D-FL] | Rep. Bill Pascrell [D-NJ] | Sen. Gary Peters [D-MI] |
| Rep. Jared Polis [D-CO] | Rep. Laura Richardson [D-CA] | Rep. Mark Schauer [D-MI] |
History
| Date | Chamber | Action |
|---|---|---|
| 2010-03-18 | Referred to House Financial Services | |
| 2010-03-18 | Referred to House Ways and Means | |
| 2010-03-18 | Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
Same As/Similar To
HB1783 (Related) 2009-03-30 - Referred to the House Committee on Ways and Means.
Subjects
Bank accounts, deposits, capital
Capital gains tax
Financial services and investments
Income tax exclusion
Manufacturing
Motor vehicles
Securities
Taxation
Capital gains tax
Financial services and investments
Income tax exclusion
Manufacturing
Motor vehicles
Securities
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/house-bill/4877/all-info |
| Text | https://www.congress.gov/111/bills/hr4877/BILLS-111hr4877ih.pdf |
