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S 1262 114th Congress Senate Taxation Business investment and capital Employee benefits and pensions Income tax exclusion Small business

Small Business Start-up Savings Accounts Act of 2015

Introduced: May 7, 2015 Introduced by: Hirono, Mazie K. Democratic · Hawaii See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2015
Read twice and referred to the Committee on Finance.
May 7, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

Small Business Start-up Savings Accounts Act of 2015

Amends the Internal Revenue Code to provide for tax-exempt Small Business Start-up Savings Accounts to pay for trade or business expenses, including 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 May 7, 2015

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1