H.R. 2490 · 111th Congress
GROW America's Small Businesses Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KennedySponsor6 cosponsors · 6 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in House · May 19, 2009
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.
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 2009
Also known as: Generating Reinvestment Opportunities With America's Small Businesses Act of 2009
Latest action (May 19, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 19, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.