US Congress House Bill 2576 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on May 19 2017 - 25% progression, died in committee
Action: 2017-05-19 - 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 2017 This bill amends the Internal Revenue Code to create tax-exempt small business start-up savings accounts to pay for the start-up expenses of a business that does not employ more than 50 full-time employees during a taxable year. Cash contributions to such accounts are allowed up to the lesser of $10,000 or the amount of compensation includible in the taxpayer's gross income for the taxable year. (Start-up expenditures are paid or incurred in connection with: (1) investigating the creation or acquisition of an active trade or business; (2) creating an active trade or business; or (3) any activity engaged in for profit and for the production of income before the day on which the active trade or business begins, in anticipation of the activity becoming an active trade or business.)

Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2017

Rep. Jose Serrano [D-NY]

Date	Chamber	Action
2017-05-19	House	Referred to the House Committee on Ways and Means.
2017-05-19	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2576/all-info
Text	https://www.congress.gov/115/bills/hr2576/BILLS-115hr2576ih.pdf