US SB364 | 2011-2012 | 112th Congress
Status
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Introduced on February 16 2011 - 25% progression, died in committee
Action: 2011-02-16 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 16 2011 - 25% progression, died in committee
Action: 2011-02-16 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to provide for tax preferred Small Business Savings Accounts to pay for trade or business expenses, including operating capital, the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).
Title
A bill to amend the Internal Revenue Code of 1986 to establish a new Small Business Savings Account.
Sponsors
| Sen. Mark Pryor [D-AR] | Sen. Scott Brown [R-MA] | Sen. Kirsten Gillibrand [D-NY] | Sen. Herb Kohl [D-WI] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-02-16 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Business investment and capital
Employee benefits and pensions
Income tax exclusion
Small business
Taxation
Employee benefits and pensions
Income tax exclusion
Small business
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/senate-bill/364/all-info |
| Text | https://www.congress.gov/112/bills/s364/BILLS-112s364is.pdf |
