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139 STAT. 241 PUBLIC LAW 119–21—JULY 4, 2025 acquired on or before the date of the enactment of the Creating Small Business Jobs Act of 2010, an amount’’. (B) CONFORMING AMENDMENT.—Section 1202(a)(4) is amended— (i) by striking ‘‘, and’’ at the end of subparagraph (B) and inserting a period, and (ii) by striking subparagraph (C). (5) OTHER CONFORMING AMENDMENTS.— (A) Paragraphs (3)(A) and (4)(A) of section 1202(a) are each amended by striking ‘‘paragraph (1)’’ and inserting ‘‘paragraph (1)(A)’’. (B) Paragraph (4)(A) of section 1202(a) is amended by inserting ‘‘and on or before the applicable date’’ after ‘‘2010’’. (C) Sections 1202(b)(2), 1202(g)(2)(A), and 1202(j)(1)(A) are each amended by striking ‘‘more than 5 years’’ and inserting ‘‘at least 3 years (more than 5 years in the case of stock acquired on or before the applicable date)’’. (6) EFFECTIVE DATES.— (A) IN GENERAL.—Except as provided in subparagraph (B), the amendments made by this subsection shall apply to taxable years beginning after the date of the enactment of this Act. (B) CONTINUED TREATMENT AS NOT ITEM OF TAX PREF- ERENCE.—The amendments made by paragraph (4) shall take effect as if included in the enactment of section 2011 of the Creating Small Business Jobs Act of 2010. (b) INCREASE IN PER ISSUER LIMITATION.— (1) IN GENERAL.—Subparagraph (A) of section 1202(b)(1) is amended to read as follows: ‘‘(A) the applicable dollar limit for the taxable year, or’’. (2) APPLICABLE DOLLAR LIMIT.—Section 1202 (b) is amended by adding at the end the following: ‘‘(4) APPLICABLE DOLLAR LIMIT.—For purposes of paragraph (1)(A), the applicable dollar limit for any taxable year with respect to eligible gain from 1 or more dispositions by a tax- payer of qualified business stock of a corporation is— ‘‘(A) if such stock was acquired by the taxpayer on or before the applicable date, $10,000,000, reduced by the aggregate amount of eligible gain taken into account by the taxpayer under subsection (a) for prior taxable years and attributable to dispositions of stock issued by such corporation and acquired by the taxpayer before, on, or after the applicable date, and ‘‘(B) if such stock was acquired by the taxpayer after the applicable date, $15,000,000, reduced by the sum of— ‘‘(i) the aggregate amount of eligible gain taken into account by the taxpayer under subsection (a) for prior taxable years and attributable to dispositions of stock issued by such corporation and acquired by the taxpayer before, on, or after the applicable date, plus ‘‘(ii) the aggregate amount of eligible gain taken into account by the taxpayer under subsection (a) for the taxable year and attributable to dispositions of 26 USC 57 note.