HR 6152
112th Congress
House
Taxation
Business investment and capital
Capital gains tax
Corporate finance and management
Employee hiring
Foreign and international corporations
Income tax credits
Income tax deductions
Income tax exclusion
Securities
Taxation of foreign income
U.S. territories and protectorates
Bring Jobs Home Act
Introduced: July 19, 2012
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 19, 2012
Referred to the House Committee on Ways and Means.
Jul 19, 2012
Introduced in House
Plain-English summary
Bring Jobs Home Act - Amends the Internal Revenue Code to: (1) grant business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. Requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses.
Allows nonrecognition of gain in a corporate reorganization for corporations that exchange property solely for stock other than nonqualified preferred stock.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1