PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Apr 23, 1997
Minority and Women Capital Formation Act of 1997 - Amends the Internal Revenue Code to establish a limited deduction of an amount equal to the sum of the aggregate bases of qualified minority fund interests and qualified women's fund interests which are acquired by a taxpayer during the taxable year at original issuance and are held at the close of such taxable year. Establishes a limited deduction of an amount equal to the sum of the aggregate bases of small minority business stock and small women's business corporations which are acquired by a taxpayer during the taxable year at original issuance and are held at the close of such taxable year. Permits a taxpayer to elect a limited credit in lieu of either deduction. Sets forth recapture provisions. Provides for the treatment of capital gains on such investments.
People & committees
Sen. Specter, Arlen [R-PA] · R–PA
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S3554-3555)
Introduced in Senate
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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