US Congress House Bill 2490 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Introduced on May 19 2009 - 25% progression, died in committee
Action: 2009-05-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Generating Reinvestment Opportunities with America's Small Businesses Act of 2009 or the GROW America's Small Businesses Act of 2009 - Amends the Internal Revenue Code to: (1) allow certain small businesses (generally, businesses with $12 million or less in gross receipts for a taxable year) to defer payment of income tax by making four equal installments over a specified two-year period; (2) extend such deferral period to three years for small businesses that increase employment and maintain salary levels of employees called to duty as members of the Ready Reserve/National Guard; and (3) establish tax-exempt GROW Accounts to provide financing and tax relief for such small businesses. Requires the Comptroller General to study and report to Congress on the applicability and impact of this Act.

Generating Reinvestment Opportunities With America's Small Businesses Act of 2009

Rep. Andre Carson [D-IN]	Rep. Paul Hodes [D-NH]	Rep. Eddie Johnson [D-TX]	Rep. Steve Kagen [D-WI]
Rep. Patrick Kennedy [D-RI]	Rep. Patrick Murphy [R-PA]	Rep. Bobby Rush [D-IL]

Date	Chamber	Action
2009-05-19		Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/2490/all-info
Text	https://www.congress.gov/111/bills/hr2490/BILLS-111hr2490ih.pdf