TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK.

SEC. 2011. TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK.(a) In General.—Subsection (a) of section 1202 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:“(4) 100 percent exclusion for stock acquired during certain periods in 2010.—In the case of qualified small business stock acquired after the date of the enactment of the Creating Small Business Jobs Act of 2010 and before January 1, 2011—“(A) paragraph (1) shall be applied by substituting ‘100 percent’ for ‘50 percent’,“(B) paragraph (2) shall not apply, and“(C) paragraph (7) of section 57(a) shall not apply.”.(b) Conforming Amendment.—Paragraph (3) of section 1202(a) of the Internal Revenue Code of 1986 is amended—(1) by inserting “certain periods in” before “2010” in the heading, and(2) by striking “before January 1, 2011” and inserting “on or before the date of the enactment of the Creating Small Business Jobs Act of 2010”.(c) Effective Date.—The amendments made by this section shall apply to stock acquired after the date of the enactment of this Act.