HR 4175
115th Congress
House
Taxation
Advanced technology and technological innovations
Business investment and capital
Congressional oversight
Government studies and investigations
Income tax credits
Manufacturing
Securities
Invest in Innovative Small Businesses Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 31, 2017
Referred to the House Committee on Ways and Means.
Oct 31, 2017
Introduced in House
Plain-English summary
Invest in Innovative Small Businesses Act
This bill amends the Internal Revenue Code to allow a new business-related tax credit equal to 25% of the equity investments made by a qualified investor in a domestic corporation or partnership that:
- is a small business,
- has its headquarters in the United States,
- is engaged in a specified high technology trade or business,
- has been in existence for less than 5 years,
- employs fewer than 100 full-time employees,
- has more than 50% of its employees performing substantially all of their services in the United States, and
- has certain equity investments designated for the purposes of this bill that do not exceed specified amounts.
The bill limits the allowable amount of such credit to the excess of the sum of regular tax liability, plus the tax under provisions regarding the alternative minimum tax, over the sum of specified tax credits allowed for the year. It also imposes an overall limitation on such credit of $500 million for each of calendar years 2018 through 2022.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1