US Congress House Bill 1737 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 16-3)
Status: Introduced on April 25 2013 - 25% progression, died in committee
Action: 2013-04-25 - 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 2013 - 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 2013

Rep. Rosa DeLauro [D-CT]	Rep. Tony Cardenas [D-CA]	Rep. David Cicilline [D-RI]	Rep. Tom Cole [R-OK]
Rep. Joe Courtney [D-CT]	Rep. Rodney Davis [R-IL]	Sen. Tammy Duckworth [D-IL]	Rep. Elizabeth Esty [D-CT]
Rep. James Himes [D-CT]	Rep. Steve Israel [D-NY]	Rep. Adam Kinzinger [R-IL]	Rep. Ann Kuster [D-NH]
Rep. Barbara Lee [D-CA]	Rep. Daniel Lipinski [D-IL]	Rep. David Loebsack [D-IA]	Rep. Michael Michaud [D-ME]
Rep. Tim Ryan [D-OH]	Rep. Paul Tonko [D-NY]	Sen. Peter Welch [D-VT]

Date	Chamber	Action
2013-04-25	House	Referred to the House Committee on Ways and Means.

SB1651 (Same As) 2013-11-05 - Read twice and referred to the Committee on Finance.
SB2651 (Same As) 2014-12-18 - Became Public Law No: 113-284.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/1737/all-info
Text	https://www.congress.gov/113/bills/hr1737/BILLS-113hr1737ih.pdf