S. 2585 · 108th Congress
Small Business Jobs Tax Credit Act of 2004
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Small Business Jobs Tax Credit Act of 2004 - Amends the Internal Revenue Code to include qualified small business employees as a targeted group eligible for the work opportunity tax credit. Defines "qualified small business employee" as an individual who resides in and is hired by a small business located in a development zone.
What it does: CRS summary · Introduced in Senate · Jun 24, 2004
Small Business Jobs Tax Credit Act of 2004 - Amends the Internal Revenue Code to include qualified small business employees as a targeted group eligible for the work opportunity tax credit. Defines "qualified small business employee" as an individual who resides in and is hired by a small business located in a development zone. Defines "development zone" as any area which has (1) a development zone designation and a nomination as a renewal community; (2) a population between 5,000 and 150,000; (3) a certain level of poverty; (4) an annual average rate of job growth of less than two percent over a specified period; and (5) a population loss of at least two percent since 1990. Sets forth special rules for determining the amount of the allowable credit based upon wages paid to employees in a development zone over a five-year period.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Jobs Tax Credit Act of 2004
Latest action (Jun 24, 2004): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 24, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.