HR 1661
112th Congress
House
Taxation
Business investment and capital
Credit and credit markets
Employee benefits and pensions
Sales and excise taxes
Small business
Wages and earnings
Small Business Tax Relief and Retirement Restoration Act of 2011
Introduced: April 15, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 2011
Referred to the House Committee on Ways and Means.
Apr 15, 2011
Introduced in House
Plain-English summary
Small Business Tax Relief and Retirement Restoration Act of 2011 - Amends the Internal Revenue Code to permit until December 31, 2011, penalty-free distributions from an individual retirement account (IRA) or a qualified employer plan for the purpose of making loans to a small business to purchase depreciable property to be used by such business or for employee salaries or wages (other than for bonuses). Requires such loans to be repaid to the IRA within five years.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1