Bills, dubbed “Startup Act 2.0”, have recently been introduced in both the House and Senate. In addition to its other, more publicized effects, the Startup Act 2.0 will also make the qualified small business stock exemption permanent. The exemption, championed by President Obama, was previously in effect in 2010 and 2011, but the law and its extensions authorizing it expired at the end of 2011.
Both bills seek to exempt 100% of qualified small business stock held for at least five years (up to a cap of $10 million) from the current 28% capital gain tax on qualified small business stock. It would also make the alternative minimum tax exemption permanent as well. However, the exemption, if passed, would only apply to stock acquired after December 31, 2012.
Further reading (with full text of the Senate version of the bill): http://www.startuplawblog.com/2012/06/06/startup-2-0-qsb-stock-exemption/