US HB1993 | 2011-2012 | 112th Congress
Status
Spectrum: Strong Partisan Bill (Republican 11-1)
Status: Introduced on May 25 2011 - 25% progression, died in committee
Action: 2011-05-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 25 2011 - 25% progression, died in committee
Action: 2011-05-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
American Job Builders Tax Reform Act of 2011 - Amends the Internal Revenue Code to: (1) increase from $10 million to $40 million the gross receipts threshold for determining whether a small contractor may adopt an accounting method for reporting income from a construction contract other than the percentage of completion method; (2) allow an annual inflation adjustment to such increased $40 million threshold amount, beginning after 2011; and (3) exempt construction contracts from alternative minimum tax rules for reporting income from long-term contracts under the percentage of completion accounting method.
Title
American Job Builders Tax Reform Act of 2011
Sponsors
Rep. Wally Herger [R-CA] | Rep. Shelley Berkley [D-NV] | Rep. Kevin Brady [R-TX] | Rep. John Culberson [R-TX] |
Rep. Kay Granger [R-TX] | Rep. David McKinley [R-WV] | Rep. Jeff Miller [R-FL] | Rep. Steven Palazzo [R-MS] |
Rep. Ron Paul [R-TX] | Rep. Erik Paulsen [R-MN] | Rep. Aaron Schock [R-IL] | Rep. Cliff Stearns [R-FL] |
History
Date | Chamber | Action |
---|---|---|
2011-05-25 | House | Referred to the House Committee on Ways and Means. |
Subjects
Accounting and auditing
Building construction
Contracts and agency
Income tax rates
Inflation and prices
Small business
Building construction
Contracts and agency
Income tax rates
Inflation and prices
Small business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/1993/all-info |
Text | https://www.congress.gov/112/bills/hr1993/BILLS-112hr1993ih.pdf |