Restoring Investor Confidence Act of 2002
Last action on Sep 25, 2002Referred to the House Committee on Ways and Means.
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Summary
Restoring Investor Confidence Act of 2002 - Amends the Internal Revenue Code to revise rules concerning capital gain for taxpayers other than corporations to establish a new general rule which provides that if for any taxable year a taxpayer other than a corporation has a capital gain, 55 percent of such gain shall be a deduction from gross income.
Excludes from individual gross income 55 percent of dividends received from a domestic corporation.
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