US Congress House Bill 30 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 3 2013 - 25% progression, died in committee
Action: 2013-01-03 - Referred to House Ways and Means
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Investment Enhancement and Tax Relief Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out an early-stage investment program (program) to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of their investments in small businesses, of which at least 50% shall be early-stage small businesses. Establishes in the Treasury a separate fund for equity financings under the program. Amends the Internal Revenue Code to provide a small business investment tax credit of 20% of the amount paid or incurred for small business investments. Directs the Secretary of the Treasury to conduct a study of the effectiveness of the tax credit in providing incentives for investment in small businesses.

Small Business Investment Enhancement and Tax Relief Act

Rep. Nydia Velazquez [D-NY]

Rep. Maxine Waters [D-CA]

Date	Chamber	Action
2013-01-03	House	Referred to House Ways and Means
2013-01-03	House	Referred to House Small Business
2013-01-03	House	Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

SB1285 (Related) 2013-07-11 - Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/30/all-info
Text	https://www.congress.gov/113/bills/hr30/BILLS-113hr30ih.pdf