US HB2789 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on June 16 2015 - 25% progression, died in committee
Action: 2015-06-16 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 16 2015 - 25% progression, died in committee
Action: 2015-06-16 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Capital Access for Small Business Banks Act This bill amends the Internal Revenue Code to allow a bank or a depository institution holding company which is an S corporation to: (1) have 500 shareholders (the current limit is 100 shareholders), and (2) issue qualified preferred bank stock. The bill makes a distribution of qualified preferred bank stock to a shareholder includible in the gross income of the shareholder and allows the bank or holding company to deduct the amount of such distribution.
Title
Capital Access for Small Business Banks Act
Sponsors
Rep. Kenny Marchant [R-TX] | Rep. Diane Black [R-TN] | Rep. Lamar Smith [R-TX] | Rep. Blaine Luetkemeyer [R-MO] |
Rep. George Holding [R-NC] | Rep. Mac Thornberry [R-TX] |
History
Date | Chamber | Action |
---|---|---|
2015-06-16 | House | Referred to the House Committee on Ways and Means. |
2015-06-16 | House | Introduced in House |
Subjects
Banking and financial institutions regulation
Business investment and capital
Corporate finance and management
Income tax deductions
Income tax exclusion
Securities
Small business
Taxation
Business investment and capital
Corporate finance and management
Income tax deductions
Income tax exclusion
Securities
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/house-bill/2789/all-info |
Text | https://www.congress.gov/114/bills/hr2789/BILLS-114hr2789ih.pdf |