Amendment ID: S2397-4

Amendment 4

Short term capital gains

Messrs. Tarr, O'Connor and Timilty move that the proposed new text be amended by inserting after section _ the following:-

"SECTION_. Paragraph (1) of subsection (a) of section 4 of said chapter 62, as so appearing, is hereby amended by inserting, in line 5, after the word 'cent' the following words:- 'provided, however, that any gain from the sale or exchange of capital assets held for 1 year or less shall be taxed at the rate of 5 per cent'."