S.18 - Small Business Paperwork Mandate Elimination Act112th Congress (2011-2012)
|Sponsor:||Sen. Johanns, Mike [R-NE] (Introduced 01/25/2011)|
|Committees:||Senate - Finance|
|Latest Action:||01/25/2011 Read twice and referred to the Committee on Finance. (All Actions)|
|Notes:||For further action, see H.R.4, which became Public Law 112-9 on 4/14/2011.|
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Summary: S.18 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (01/25/2011)
Small Business Paperwork Mandate Elimination Act - Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.
Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.