HR 5318
111th Congress
House
Taxation
Business investment and capital
Employee benefits and pensions
Sales and excise taxes
Small business
Small Business Investment Penalty Relief Act of 2010
Introduced: May 14, 2010
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 14, 2010
Referred to the House Committee on Ways and Means.
May 14, 2010
Introduced in House
Plain-English summary
Small Business Investment Penalty Relief Act of 2010 - Amends the Internal Revenue Code to waive the 10% penalty on premature distributions made in 2010 or 2011 from a tax-exempt retirement plan if made for investment in a qualified small business (defined as having gross receipts not exceeding $20 million or not more than 50 full-time employees during the preceding taxable year).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1