HR 6025
111th Congress
House
Taxation
Business investment and capital
Income tax deductions
Income tax exclusion
Manufacturing
Manufacturing Reinvestment Account Act of 2010
Introduced: July 30, 2010
Introduced by:
DeLauro, Rosa L.
Democratic
· Connecticut
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2010
Referred to the House Committee on Ways and Means.
Jul 30, 2010
Introduced in House
Plain-English summary
Manufacturing Reinvestment Account Act of 2010 - Amends the Internal Revenue Code to establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $250,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Terminates the tax deduction for payments to an MRA seven years after the enactment of this Act.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1