S. 193: Startup Innovation Credit Act of 2013

Introduced:
Jan 31, 2013
Status:
Referred to Committee
Prognosis
0% chance of being enacted
Track this bill
Sponsor
Chris Coons
Junior Senator from Delaware
Party
Democrat
Text
Read Text »
Last Updated
Jan 31, 2013
Length
8 pages
Related Bills
S. 3460 (112th) was a previous version of this bill.

Referred to Committee
Last Action: Jul 31, 2012

S. 1920 (Related)
Innovators Job Creation Act

Referred to Committee
Last Action: Jan 14, 2014

 
Status

This bill was assigned to a congressional committee on January 31, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Jan 31, 2013
Referred to Committee Jan 31, 2013
Reported by Committee ...
Passed Senate ...
Passed House ...
Signed by the President ...
Prognosis

0% 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

A bill to amend the Internal Revenue Code of 1986 to provide for startup businesses to use a portion of the research and development credit to offset payroll taxes.

Summary

No summaries available.

Cosponsors
7 cosponsors (4R, 3D) (show)
Committees

Senate Finance

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.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

Notes

S. stands for Senate 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.


1/31/2013--Introduced.
Startup Innovation Credit Act of 2013 - Amends the Internal Revenue Code to allow a qualified small business, other than a tax-exempt organization, to use a portion of its tax credit for increasing research expenditures as an offset against its payroll tax liability under the Federal Insurance Contributions Act (FICA). Defines "qualified small business" as a corporation, partnership, or S corporation if the gross receipts of such entity for the taxable year are less than $5 million and such entity did not have gross receipts for any period preceding the 5-year period ending with such taxable year.
Limits the amount of the payroll tax credit portion to $250,000 in any taxable year.

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.

Use the comment space below for discussion of the merits of S. 193 with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus