H.R. 4985 (109th): Small Business Efficiency Act of 2006

Introduced:
Mar 16, 2006 (109th Congress, 2005–2006)
Sponsor:
Rep. Kevin Brady [R-TX8]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 2466 (112th) on Jul 08, 2011.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on March 16, 2006, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 16, 2006
Cosponsors
19 cosponsors (13R, 6D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to clarify the employment tax treatment and reporting of wages paid by professional employer organizations.

Summary

No summaries available.

Text

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Last updated Mar 16, 2006.
17 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/16/2006--Introduced.
Small Business Efficiency Act of 2006 - Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer). Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond, up to $1 million, to guarantee payment of employment taxes. Limits the required bond amount to $50,000 for a newly created PEO during its three-year startup period.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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