US Congress House Bill 4513 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 26 2010 - 25% progression, died in chamber
Action: 2010-06-15 - Referred to the Subcommittee on Courts and Competition Policy.
Text: Latest bill text (Introduced) [PDF]

Job Creation Act of 2010 - Amends the Internal Revenue Code to: (1) extend through 2010 the increased expensing allowance for depreciable business assets; (2) exclude from gross income in 2010 100% of the gain from the sale of small business stock; and (3) exclude from gross income in 2010 all unemployment compensation. Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require all amounts repaid under the Troubled Asset Relief Program (TARP) to reduce the program's purchase authority. Amends Rule 11 of the Federal Rules of Civil Procedure (sanctions for filing a frivolous lawsuit) to: (1) require courts to award reasonable expenses, including attorney's fees, to a prevailing party in a Rule 11 proceeding (currently discretionary); and (2) eliminate the 21-day period allowed for withdrawing or correcting a claim deemed frivolous. Requires state courts to apply Rule 11 to actions in state courts that substantially affect interstate commerce. Limits venue for personal injury claims filed in state or federal courts to the county or district: (1) in which the plaintiff or defendant resides; (2) where the plaintiff resided at the time of the alleged injury; or (3) the district in which the defendant's principal place of business is located. Imposes additional sanctions: (1) on attorneys who are found to violate Rule 11 three or more times; and (2) for willful and intentional destruction of documents relevant to a pending action in federal court. Establishes a rebuttable presumption of a Rule 11 violation if a plaintiff attempts to litigate a claim that has already been litigated and lost on the merits. Prohibits a court in a Rule 11 proceeding from ordering the nondisclosure of the record of the proceeding unless the court makes a specific finding of fact that justifies such an order.

Job Creation Act of 2010

Rep. Vern Buchanan [R-FL]

Rep. Leonard Lance [R-NJ]

Date	Chamber	Action
2010-06-15		Referred to the Subcommittee on Courts and Competition Policy.
2010-01-27		Sponsor introductory remarks on measure. (CR H390-391)
2010-01-26		Referred to House Judiciary
2010-01-26		Referred to House Financial Services
2010-01-26		Referred to House Ways and Means
2010-01-26		Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and the Judiciary, 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.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/4513/all-info
Text	https://www.congress.gov/111/bills/hr4513/BILLS-111hr4513ih.pdf