US Congress Senate Bill 2050 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on January 31 2012 - 25% progression, died in committee
Action: 2012-01-31 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S211-212)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Tax Extenders Act of 2012 - Amends the Internal Revenue Code to extend through 2012: (1) the 100% exclusion from gross income of gain from the sale or exchange of certain small business stock; (2) the five-year carryback of the general business tax credits of eligible small businesses; (3) the offset against the alternative minimum tax (AMT) of general business tax credits; (4) the reduction (from seven to five years) in the recognition period for the built-in gains of S corporations; (5) the increased expensing allowance for depreciable business assets, including computer software; (6) the special tax rule for long-term contract accounting; (7) the increased tax deduction for small business start-up expenditures; and (8) the tax deduction for health insurance premiums in computing self-employment taxable income.

Small Business Tax Extenders Act of 2012

Sen. Olympia Snowe [R-ME]	Sen. Scott Brown [R-MA]	Sen. Kirsten Gillibrand [D-NY]	Sen. Amy Klobuchar [D-MN]
Sen. Mary Landrieu [D-LA]	Sen. Barbara Mikulski [D-MD]

Date	Chamber	Action
2012-01-31	Senate	Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S211-212)
2012-01-31	Senate	Sponsor introductory remarks on measure. (CR S210-211)

SB1801 (Related) 2011-11-03 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7129-7131)

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/2050/all-info
Text	https://www.congress.gov/112/bills/s2050/BILLS-112s2050is.pdf