H.R. 5346 · 113th Congress
Rural Microbusiness Investment Credit Act of 2014
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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
KindSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Rural Microbusiness Investment Credit Act of 2014 - Amends the Internal Revenue Code to allow a business-related tax credit for 35% of new investment in a rural microbusiness. Imposes limits on such credit for businesses and individual taxpayers.
What it does: CRS summary · Introduced in House · Jul 31, 2014
Rural Microbusiness Investment Credit Act of 2014 - Amends the Internal Revenue Code to allow a business-related tax credit for 35% of new investment in a rural microbusiness. Imposes limits on such credit for businesses and individual taxpayers.
Defines: (1) "rural microbusiness" as a trade or business that employs not more than 5 full-time employees in a taxable year and is carried on, and physically located, in a distressed rural area; and (2) "distressed rural area" as an area that has lost at least 5% of its population over the last 10 years or 10% of its population over the last 20 years, that has a median family income below 85 % of the national median family income, that has a poverty rate that exceeds 12.5%, or where average unemployment in the preceding year exceeds 120% of the national average.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rural Microbusiness Investment Credit Act of 2014
Latest action (Jul 31, 2014): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 31, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.