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H.R. 122 (113th): Creating Jobs From Innovative Small Businesses Act of 2013


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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 3, 2013.


Creating Jobs From Innovative Small Businesses Act of 2013 - Amends the Internal Revenue Code to allow a general business tax credit of 20% of the amount paid to acquire an equity investment in a qualified high technology small business concern. Defines "qualified high technology small business concern" as a small business concern that employs an average of fewer than 500 employees during a year and devotes at least 50% of its gross expenditures to research and experimentation.