H.R. 5691 · 111th Congress
To amend the Internal Revenue Code of 1986 to provide a credit for investment in new or expanding small…
Full title
To amend the Internal Revenue Code of 1986 to provide a credit for investment in new or expanding small businesses.
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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.
R
HoekstraSponsorNo cosponsors.
Amends the Internal Revenue Code to allow individual taxpayers a tax credit for 20% of their qualified small business investments.
What it does: CRS summary · Introduced in House · Jul 1, 2010
Amends the Internal Revenue Code to allow individual taxpayers a tax credit for 20% of their qualified small business investments. Defines "qualified small business investment" as any stock in a domestic corporation acquired at its original issue or any capital or profits interest in a domestic partnership if: (1) such stock or interest was acquired solely in exchange for cash; and either (2) such corporation or partnership has been in existence less than 2 years as of the date of such acquisition or such corporation or partnership had at least a 10% growth rate for each of the 2 years preceding such acquisition.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide a credit for investment in new or expanding small businesses.
Latest action (Jul 1, 2010): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 1, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.