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H.R. 3937 118th Congress House

Small Business Jobs Act

Official title: To amend the Internal Revenue Code of 1986 to promote the establishment and growth of small businesses.

Introduced: June 9, 2023 Introduced by: Jason Smith Republican · Missouri See on congress.gov
Taxation Administrative law and regulatory proceduresBusiness investment and capitalCapital gains taxInflation and prices
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Internal Revenue Service (IRS)Rural conditions and developmentSecuritiesSmall businessTax administration and collection, taxpayers
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 30, 2023
Placed on the Union Calendar, Calendar No. 100.
Jun 30, 2023
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-128.
Jun 13, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
Jun 13, 2023
Committee Consideration and Mark-up Session Held
Jun 9, 2023
Introduced in House
Jun 9, 2023
Referred to the House Committee on Ways and Means.
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 Latest action June 30, 2023

Placed on the Union Calendar, Calendar No. 100.

 Plain-English summary Congressional Research Service

Small Business Jobs Act

This bill provides tax incentives for investment in small businesses. Among other provisions, the bill

  • increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor,
  • restores reporting requirements for third party network transactions,
  • modifies the exclusion of gain from the sale of qualified small business stock,
  • increases the ceiling for expensing of depreciable business assets,
  • establishes rural opportunity zones, and
  • reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 6

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3937: Small Business Jobs Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-3937/
MLA
"H.R. 3937: Small Business Jobs Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-3937/.
Bluebook (legal)
H.R. 3937, 118th Cong. (2026), https://openamerica.io/bill/118-HR-3937/.
Markdown link
[H.R. 3937: Small Business Jobs Act](https://openamerica.io/bill/118-HR-3937/)
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