S 364
112th Congress
Senate
Taxation
Business investment and capital
Employee benefits and pensions
Income tax exclusion
Small business
A bill to amend the Internal Revenue Code of 1986 to establish a new Small Business Savings Account.
Introduced: February 16, 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
Feb 16, 2011
Read twice and referred to the Committee on Finance.
Feb 16, 2011
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to provide for tax preferred Small Business Savings Accounts to pay for trade or business expenses, including operating capital, the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1