US Congress Senate Bill 341 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on February 3 2015 - 25% progression, died in committee
Action: 2015-02-03 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Start-up Jobs and Innovation Act Amends the Internal Revenue Code to: (1) make permanent the increase to $500,000 of the expensing allowance for business assets, including computer software, and the treatment of qualified real property as depreciable business property; (2) make permanent the 100% exclusion from gross income of gain from the sale or exchange of small business stock; (3) increase and equalize the tax deduction for business start-up expenses and organizational expenditures; (4) increase from $5 million to $10 million the gross receipt test used to determine the eligibility of small businesses to use simplified cash accounting and inventory rules; and (5) exempt from passive loss rules any research activity carried on by a high technology research small business pass-thru entity.

Start-up Jobs and Innovation Act

Sen. Pat Toomey [R-PA]

Sen. Robert Menendez [D-NJ]

Sen. Pat Roberts [R-KS]

Sen. Thomas Carper [D-DE]

Date	Chamber	Action
2015-02-03	Senate	Read twice and referred to the Committee on Finance.

HB2179 (Related) 2015-04-30 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/341/all-info
Text	https://www.congress.gov/114/bills/s341/BILLS-114s341is.pdf