HR 4896
97th Congress
House
Taxation
Business and commerce
Income tax
Minorities
Minority business enterprises
Small business
Tax credits
A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax for any business which increases the amount of property and services provided to such business by minority-owned small businesses.
Introduced: November 4, 1981
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 4, 1981
Referred to House Committee on Ways and Means.
Nov 4, 1981
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow businesses an income tax credit for 15 percent of the increase in contracts for personal property or services awarded by such businesses to certified minority firms over a specified time period.
Defines "certified minority firm" as a firm certified by the Administrator of the Small Business Administration as being socially or economically disadvantaged.
What's happening now
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1