H.R. 5864 (111th): Small Business Innovation through Investment Act of 2010

Introduced:
Jul 26, 2010 (111th Congress, 2009–2010)
Sponsor:
Rep. Joe Sestak [D-PA7]
Status:
Died (Referred to Committee)

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 July 26, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 26, 2010
Cosponsors
none
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 allow a credit against income tax for qualified equity investments in certain small businesses, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jul 26, 2010.
15 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.

7/26/2010--Introduced.
Small Business Innovation through Investment Act of 2010 - Amends the Internal Revenue Code to allow a new business-related tax credit for 30% of the equity investment in a small business concern. Allows a maximum credit of $500,000, but reduces such amount by so much of $250,000 that is not an investment in a manufacturing or biotechnology small business concern, a minority and women-owned small business, or a qualified HUBzone (historically underutilized business zone) small business concern. Terminates such credit after 2016. Requires the Secretary of the Treasury to provide to the Administrator of the Small Business Administration (SBA) any data on the implementation and use of the equity investment in small business tax credit that is requested by the Administrator for analysis purposes. Requires the Administrator to report to Congress annually on the implementation and use of such tax credit.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)