US Congress House Bill 5346 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on July 31 2014 - 25% progression, died in committee
Action: 2014-07-31 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Rural Microbusiness Investment Credit Act of 2014 - Amends the Internal Revenue Code to allow a business-related tax credit for 35% of new investment in a rural microbusiness. Imposes limits on such credit for businesses and individual taxpayers. Defines: (1) "rural microbusiness" as a trade or business that employs not more than 5 full-time employees in a taxable year and is carried on, and physically located, in a distressed rural area; and (2) "distressed rural area" as an area that has lost at least 5% of its population over the last 10 years or 10% of its population over the last 20 years, that has a median family income below 85 % of the national median family income, that has a poverty rate that exceeds 12.5%, or where average unemployment in the preceding year exceeds 120% of the national average.

Rural Microbusiness Investment Credit Act of 2014

Rep. Ron Kind [D-WI]

Rep. Tom Reed [R-NY]

Date	Chamber	Action
2014-07-31	House	Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5346/all-info
Text	https://www.congress.gov/113/bills/hr5346/BILLS-113hr5346ih.pdf