US SB2985 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 4 2010 - 25% progression, died in chamber
Action: 2010-02-04 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 4 2010 - 25% progression, died in chamber
Action: 2010-02-04 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to provide for tax preferred Small Business Startup Savings Accounts to pay for trade or business expenses, including operating capital, the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).
Title
A bill to amend the Internal Revenue Code of 1986 to establish a new Small Business Startup Savings Account.
Sponsors
| Sen. Herb Kohl [D-WI] | Sen. Mark Pryor [D-AR] |
History
| Date | Chamber | Action |
|---|---|---|
| 2010-02-04 | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB4309 (Related) 2009-12-15 - Referred to the House Committee on Ways and Means.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/senate-bill/2985/all-info |
| Text | https://www.congress.gov/111/bills/s2985/BILLS-111s2985is.pdf |
