A bill to amend the Internal Revenue Code of 1954 to provide small business concerns a credit against income tax for amounts contributed to a reserve the payments from which must be used for capital investment and the employment of additional employees.
The bill’s titles are written by its sponsor.
Sponsor and status
96th Congress (1979–1980)
This bill was introduced on April 2, 1980, in a previous session of Congress, but it did not receive a vote.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
History
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Apr 2, 1980
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
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H.R. 7024 (96th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 7024. This is the one from the 96th Congress.
This bill was introduced in the 96th Congress, which met from Jan 15, 1979 to Dec 16, 1980. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
“H.R. 7024 — 96th Congress: Small Business Capital Formation, Capital Retention, and Expansion Act of 1980.” www.GovTrack.us. 1980. June 5, 2023 <https://www.govtrack.us/congress/bills/96/hr7024>
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
