The applicable date is the day this paragraph was enacted
What the document says“The term `applicable date' means the date of the enactment of this paragraph.”
The section adds a new paragraph (6) to section 1202(a) of the Internal Revenue Code of 1986 defining the applicable date as the date the paragraph was enacted, and the acquisition date as the first day the taxpayer held the stock, worked out after applying section 1223.
What the document actually says“The term `applicable date' means the date of the enactment of this paragraph.”
The applicable date is the day this paragraph became law.
That date splits older stock from newer. The acquisition date is the first day the holder had the stock. Another rule may pull that day back.
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