Allows individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.

This bill amends the Internal Revenue Code to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies. Specifically, it introduces a new section that treats shareholders as having held shares for one year and a day upon acquisition through reinvestment. This deferral applies to individuals but not to estates or trusts. Gain is recognized upon sale, redemption, or the individual's death. The amendments apply to taxable years ending after the enactment of this Act.

Allows individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.

This bill amends the Internal Revenue Code to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies. Specifically, it introduces a new section that treats shareholders as having held shares for one year and a day upon acquisition through reinvestment. This deferral applies to individuals but not to estates or trusts. Gain is recognized upon sale, redemption, or the individual's death. The amendments apply to taxable years ending after the enactment of this Act.