S. 1801 (112th): Small Business Jobs Tax Extenders Act of 2011

Introduced:
Nov 03, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. Olympia Snowe [R-ME]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on November 3, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Nov 03, 2011
Referred to Committee Nov 03, 2011
Cosponsors
none
Committees

Senate Finance

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

Full Title

A bill to amend the Internal Revenue Code of 1986 to extend certain provisions of the Creating Small Business Jobs Act of 2010, and for other purposes.

Summary

No summaries available.

Text

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Last updated Nov 03, 2011.
12 pages

Primary Source

View on THOMAS (The Library of Congress)

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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.

11/3/2011--Introduced.
Small Business Jobs Tax Extenders Act of 2011 - Amends the Internal Revenue Code to extend for one year certain tax expenditures for small businesses, including:
(1) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock,
(2) the five-year carryback of tax credit amounts of eligible small businesses,
(3) increased expensing and accelerated depreciation allowances,
(4) the increased tax deduction for business start-up expenses, and
(5) the tax deduction allowed for the health insurance costs of self-employed individuals.
Exempts from the requirement to purchase health insurance under the Patient Protection and Affordable Care Act an indivdual whose required contribution (determined on an annual basis) for coverage for a month exceeds 5% (currently 8%) of such individual's household income for the taxable year.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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