H.R. 5978 · 111th Congress
Small Business Tax Relief and Retirement Restoration Act of 2010
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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.
11 cosponsors · 7 D, 4 R
9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Tax Relief and Retirement Restoration Act of 2010 - Amends the Internal Revenue Code to permit until December 31, 2010, penalty-free distributions from an individual retirement account (IRA) or a qualified employer plan for the purpose of making loans to a small business to purchase depreciable property to be used by such business or for…
What it does: CRS summary · Introduced in House · Jul 29, 2010
Small Business Tax Relief and Retirement Restoration Act of 2010 - Amends the Internal Revenue Code to permit until December 31, 2010, penalty-free distributions from an individual retirement account (IRA) or a qualified employer plan for the purpose of making loans to a small business to purchase depreciable property to be used by such business or for employee salaries or wages (other than for bonuses). Requires such loans to be repaid to the IRA within five years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Tax Relief and Retirement Restoration Act of 2010
Latest action (Jul 29, 2010): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 29, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.