H.R. 30 · 113th Congress
Small Business Investment Enhancement and Tax Relief Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VelázquezSponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Investment Enhancement and Tax Relief Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out an early-stage investment program (program) to provide, through participating investment companies, equity financing to support early-stage businesses…
What it does: CRS summary · Introduced in House · Jan 3, 2013
Small Business Investment Enhancement and Tax Relief Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out an early-stage investment program (program) to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of their investments in small businesses, of which at least 50% shall be early-stage small businesses. Establishes in the Treasury a separate fund for equity financings under the program.
Amends the Internal Revenue Code to provide a small business investment tax credit of 20% of the amount paid or incurred for small business investments. Directs the Secretary of the Treasury to conduct a study of the effectiveness of the tax credit in providing incentives for investment in small businesses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Investment Enhancement and Tax Relief Act
Latest action (Jan 3, 2013): Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Commerce · Origin: House · Introduced: Jan 3, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.