US Congress Senate Bill 1381 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on June 25 2009 - 25% progression, died in chamber
Action: 2009-06-25 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7094-7095)
Text: Latest bill text (Introduced) [PDF]

Small Business Tax Relief Act of 2009 - Amends Internal Revenue Code provisions relating to small business to: (1) increase and make permanent the election to expense small business assets, including computer software, in the current taxable year; (2) reduce graduated tax rates for corporations with taxable incomes of less than $10 million; (3) exempt income attributable to business tax credits from the alternative minimum tax (AMT); (4) allow five-year carrybacks for business tax credits and small business net operating losses; (5) allow an enhanced tax deduction for income attributable to small business domestic production activities; (6) reduce to five years the recognition period for the built-in gains of S corporations; (7) exclude from gross income all gain from the sale of certain small business stock before 2011; and (8) allow a deduction from the income of self-employed individuals for health insurance costs.

Small Business Tax Relief Act of 2009

Sen. Chuck Grassley [R-IA]

Date	Chamber	Action
2009-06-25		Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7094-7095)
2009-06-25		Sponsor introductory remarks on measure. (CR S7091-7094)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1381/all-info
Text	https://www.congress.gov/111/bills/s1381/BILLS-111s1381is.pdf