US HB1737 | 2013-2014 | 113th Congress
Status
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]
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]
Summary
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.
Title
Manufacturing Reinvestment Account Act of 2013
Sponsors
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] |
History
Date | Chamber | Action |
---|---|---|
2013-04-25 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
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.
SB2651 (Same As) 2014-12-18 - Became Public Law No: 113-284.
Subjects
US Congress State Sources
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 |