US Congress Senate Bill 256 (Prior Session Legislation)

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Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 2 2011 - 25% progression, died in committee
Action: 2011-02-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity. Defines "qualified small business entity" as a domestic corporation or partnership that: (1) is a small business headquarted in the United States, (2) is engaged in a high technology trade or business, (3) has been in existence for less than five years as of the date of the qualified equity investment, and (4) employs less than 100 full-time employees, more than 50% of whom perform substantially all of their services in the United States. Limits the dollar amount of such credit to $500 million for each of calendar years 2011 through 2015. Requires: (1) the Secretary of the Treasury to prescribe regulations on the allocations of such credit to a small business entity, and (2) the Comptroller General to audit the investment tax credit program.

American Opportunity Act of 2011

Sen. Mark Pryor [D-AR]

Sen. Scott Brown [R-MA]

Sen. Kirsten Gillibrand [D-NY]

Date	Chamber	Action
2011-02-02	Senate	Read twice and referred to the Committee on Finance.
2011-02-02	Senate	Sponsor introductory remarks on measure. (CR S483)

SB1960 (Related) 2011-12-07 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/256/all-info
Text	https://www.congress.gov/112/bills/s256/BILLS-112s256is.pdf