US HB3476 | 2011-2012 | 112th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on November 18 2011 - 25% progression, died in committee
Action: 2012-01-12 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Pending: House Subcommittee on Capital Markets and Government Sponsored Enterprises Committee
Text: Latest bill text (Introduced) [PDF]

Summary

American Growth, Recovery, Empowerment, and Entrepreneurship Act or the AGREE Act - Amends the Internal Revenue Code to extend certain tax expenditure provisions for business taxpayers, including: (1) bonus depreciation and expensing of business and investment assets, (2) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock, and (3) the tax credit for increasing research expenses. Increases to 20% the rate of the alternative simplified research tax credit and makes such credit permanent. Increases the research tax credit for the research expenses of manufacturers whose domestic production gross receipts exceed 50% of their total production gross receipts. Allows a business-related tax credit of up to $100,000 for 25% of the franchise fees paid or incurred by a veteran for the purchase of a franchise. Amends the Sarbanes-Oxley Act of 2002 to exempt certain small issuers of securities from the internal control reporting and assessment requirements of such Act. Amends the Immigration and Nationality Act to: (1) eliminate the per country numerical limitation for employment-based immigrants, and (2) increase the per country numerical limitation for family based immigrants from 7% to 15% of the total number of family-sponsored visas. Amends the Chinese Student Protection Act of 1992 to eliminate the provision requiring the reduction of annual People's Republic of China immigrant visas to offset status adjustments under such Act. Sets forth a transition period for employment-based immigrant visas and per country distribution rules for reserved and unreserved visas. Authorizes the Secretary of Homeland Security (DHS) to share information and provide: (1) unredacted samples of the products, packaging, and labels, or related photos with trademark right holders if United States Customs and Border Protection suspects an import or export violation under specified provisions of the Lanham Act relating to copied or simulated marks or names; and (2) samples to affected parties upon the seizure of material imported in violation of specified federal copyright laws prohibiting the circumvention of technological measures that control access to or protect a copyrighted work.

Tracking Information

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Title

AGREE Act

Sponsors


History

DateChamberAction
2012-01-12HouseReferred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2011-12-02HouseReferred to the Subcommittee on Immigration Policy and Enforcement.
2011-11-18HouseReferred to House Financial Services
2011-11-18HouseReferred to House Judiciary
2011-11-18HouseReferred to House Ways and Means
2011-11-18HouseReferred to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Same As/Similar To

SB1801 (Related) 2011-11-03 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7129-7131)
SB1866 (Same As) 2011-11-16 - Sponsor introductory remarks on measure. (CR S7594-7596)
SB1873 (Related) 2011-11-15 - Read twice and referred to the Committee on Finance.
HB942 (Related) 2011-03-08 - Referred to the House Committee on Ways and Means.
HB1693 (Related) 2011-05-03 - Referred to the House Committee on Ways and Means.
HB2888 (Related) 2011-09-12 - Referred to the House Committee on Ways and Means.
HB3012 (Related) 2012-01-23 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 293.
SB155 (Related) 2011-01-25 - Read twice and referred to the Committee on Finance.
SB1540 (Related) 2011-09-12 - Read twice and referred to the Committee on Finance.
SB1857 (Related) 2011-11-10 - Read twice and referred to the Committee on the Judiciary.
SB1983 (Related) 2011-12-13 - Read twice and referred to the Committee on the Judiciary.

Subjects


US Congress State Sources


Bill Comments

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