US HB1661 | 2011-2012 | 112th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 7-2)
Status: Introduced on April 15 2011 - 25% progression, died in committee
Action: 2011-04-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 15 2011 - 25% progression, died in committee
Action: 2011-04-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Small Business Tax Relief and Retirement Restoration Act of 2011 - Amends the Internal Revenue Code to permit until December 31, 2011, penalty-free distributions from an individual retirement account (IRA) or a qualified employer plan for the purpose of making loans to a small business to purchase depreciable property to be used by such business or for employee salaries or wages (other than for bonuses). Requires such loans to be repaid to the IRA within five years.
Title
Small Business Tax Relief and Retirement Restoration Act of 2011
Sponsors
| Rep. Niki Tsongas [D-MA] | Rep. David Cicilline [D-RI] | Rep. Yvette Clarke [D-NY] | Rep. Joe Courtney [D-CT] |
| Rep. William Keating [D-MA] | Rep. Dale Kildee [D-MI] | Rep. Robert Latta [R-OH] | Rep. Laura Richardson [D-CA] |
| Rep. Michael Simpson [R-ID] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-04-15 | House | Referred to the House Committee on Ways and Means. |
Subjects
Business investment and capital
Credit and credit markets
Employee benefits and pensions
Sales and excise taxes
Small business
Taxation
Wages and earnings
Credit and credit markets
Employee benefits and pensions
Sales and excise taxes
Small business
Taxation
Wages and earnings
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/1661/all-info |
| Text | https://www.congress.gov/112/bills/hr1661/BILLS-112hr1661ih.pdf |
