H.R. 30: Small Business Investment Enhancement and Tax Relief Act

Introduced:
Jan 03, 2013
Status:
Referred to Committee
Prognosis
0% chance of being enacted
Track this bill
Sponsor
Nydia Velázquez
Representative for New York's 7th congressional district
Party
Democrat
Text
Read Text »
Last Updated
Jan 03, 2013
Length
16 pages
Related Bills
S. 1285 (Related)
Small Business Innovation Act of 2013

Referred to Committee
Last Action: Jul 11, 2013

 
Status

This bill was assigned to a congressional committee on January 3, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Jan 03, 2013
Referred to Committee Jan 03, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

1% chance of getting past committee.
0% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

 
Full Title

To amend the Small Business Investment Act of 1958, to provide for a small business early-stage investment program, and for other purposes.

Summary

No summaries available.

Cosponsors
1 cosponsors (1D) (show)
Committees

House Small Business

House Ways and Means

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

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


1/3/2013--Introduced.
Small Business Investment Enhancement and Tax Relief Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out an early-stage investment program (program) to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years).
Outlines investment company application requirements and selection procedures.
Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company.
Requires the company to make all of their investments in small businesses, of which at least 50% shall be early-stage small businesses.
Establishes in the Treasury a separate fund for equity financings under the program.
Amends the Internal Revenue Code to provide a small business investment tax credit of 20% of the amount paid or incurred for small business investments. Directs the Secretary of the Treasury to conduct a study of the effectiveness of the tax credit in providing incentives for investment in small businesses.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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