US Congress House Bill 110 (Prior Session Legislation)

---

Sponsorship: Moderate Partisan Bill (Democrat 17-3)
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2011-01-05 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Manufacturing Reinvestment Account Act of 2011 - Amends the Internal Revenue Code to establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $500,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Imposes a 10% tax on amounts in an MRA that are not distributed within 7 years. Terminates the tax deduction for payments to an MRA 10 years after the enactment of this Act.

Manufacturing Reinvestment Account Act of 2011

Rep. Rosa DeLauro [D-CT]	Rep. Leonard Boswell [D-IA]	Rep. Bruce Braley [D-IA]	Rep. Russ Carnahan [D-MO]
Rep. David Cicilline [D-RI]	Rep. Michael Doyle [D-PA]	Rep. James Himes [D-CT]	Rep. Randy Hultgren [R-IL]
Rep. Steve Israel [D-NY]	Rep. Dennis Kucinich [D-OH]	Rep. Daniel Lipinski [D-IL]	Rep. David Loebsack [D-IA]
Rep. Donald Manzullo [R-IL]	Rep. Michael Michaud [D-ME]	Sen. Christopher Murphy [D-CT]	Rep. Tim Ryan [D-OH]
Rep. Janice Schakowsky [D-IL]	Rep. Robert Schilling [R-IL]	Rep. Betty Sutton [D-OH]	Rep. Paul Tonko [D-NY]

Date	Chamber	Action
2011-01-05	House	Referred to the House Committee on Ways and Means.

SB1237 (Same As) 2011-06-21 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/110/all-info
Text	https://www.congress.gov/112/bills/hr110/BILLS-112hr110ih.pdf