H.R. 6004 · 109th Congress
GROW America's Small Businesses Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KennedySponsorNo cosponsors.
Generating Reinvestment Opportunities with America's Small Businesses Act of 2006 or the GROW America's Small Businesses Act of 2006 - 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…
What it does: CRS summary · Introduced in House · Jul 28, 2006
Generating Reinvestment Opportunities with America's Small Businesses Act of 2006 or the GROW America's Small Businesses Act of 2006 - 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: GROW America's Small Businesses Act of 2006
Also known as: Generating Reinvestment Opportunities with America's Small Businesses Act of 2006
Latest action (Jul 28, 2006): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 28, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.