H.R. 4175 · 115th Congress
Invest in Innovative Small Businesses Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SmithSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to allow a new business-related tax credit equal to 25% of the equity investments made by a qualified investor in a domestic corporation or partnership that:
What it does: CRS summary · Introduced in House · Oct 31, 2017
Invest in Innovative Small Businesses Act
This bill amends the Internal Revenue Code to allow a new business-related tax credit equal to 25% of the equity investments made by a qualified investor in a domestic corporation or partnership that:
- is a small business,
- has its headquarters in the United States,
- is engaged in a specified high technology trade or business,
- has been in existence for less than 5 years,
- employs fewer than 100 full-time employees,
- has more than 50% of its employees performing substantially all of their services in the United States, and
- has certain equity investments designated for the purposes of this bill that do not exceed specified amounts.
The bill limits the allowable amount of such credit to the excess of the sum of regular tax liability, plus the tax under provisions regarding the alternative minimum tax, over the sum of specified tax credits allowed for the year. It also imposes an overall limitation on such credit of $500 million for each of calendar years 2018 through 2022.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Invest in Innovative Small Businesses Act
Latest action (Oct 31, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Oct 31, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.