S. 256 · 112th Congress
American Opportunity Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PryorSponsor2 cosponsors · 1 D, 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity.
What it does: CRS summary · Introduced in Senate · Feb 2, 2011
American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity. Defines "qualified small business entity" as a domestic corporation or partnership that: (1) is a small business headquarted in the United States, (2) is engaged in a high technology trade or business, (3) has been in existence for less than five years as of the date of the qualified equity investment, and (4) employs less than 100 full-time employees, more than 50% of whom perform substantially all of their services in the United States. Limits the dollar amount of such credit to $500 million for each of calendar years 2011 through 2015.
Requires: (1) the Secretary of the Treasury to prescribe regulations on the allocations of such credit to a small business entity, and (2) the Comptroller General to audit the investment tax credit program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Opportunity Act of 2011
Latest action (Feb 2, 2011): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 2, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.