US Congress House Bill 2558 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 27 2013 - 25% progression, died in committee
Action: 2013-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2013 - Amends the Internal Revenue Code to establish tax-exempt small business start-up accounts to provide for expenditures related to the creation or acquisition of an active trade or business. Limits the annual amount that may be contributed to such accounts to the lesser of $10,000 or the taxpayer's compensation that is includible in gross income. Sets forth reporting requirements for the trustee of a small business start-up account. Makes the tax penalties for prohibited transactions and excess contributions applicable to small business start-up savings accounts.

Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2013

Rep. Daniel Maffei [D-NY]

Date	Chamber	Action
2013-06-27	House	Referred to the House Committee on Ways and Means.

SB2724 (Related) 2014-07-31 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/2558/all-info
Text	https://www.congress.gov/113/bills/hr2558/BILLS-113hr2558ih.pdf