Skip to main content
HR 2490 111th Congress House Taxation Bank accounts, deposits, capital Congressional oversight Government studies and investigations Income tax deferral National Guard and reserves Small business Wages and earnings

GROW America's Small Businesses Act of 2009

Introduced: May 19, 2009 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 19, 2009
Referred to the House Committee on Ways and Means.
May 19, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Generating Reinvestment Opportunities with America's Small Businesses Act of 2009 or the GROW America's Small Businesses Act of 2009 - Amends the Internal Revenue Code to: (1) allow certain small businesses (generally, businesses with $12 million or less in gross receipts for a taxable year) to defer payment of income tax by making four equal installments over a specified two-year period; (2) extend such deferral period to three years for small businesses that increase employment and maintain salary levels of employees called to duty as members of the Ready Reserve/National Guard; and (3) establish tax-exempt GROW Accounts to provide financing and tax relief for such small businesses.

Requires the Comptroller General to study and report to Congress on the applicability and impact of this Act.

What's happening now May 19, 2009

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1