Text: H.R.1621 — 113th Congress (2013-2014)All Bill Information (Except Text)

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Introduced in House (04/18/2013)


113th CONGRESS
1st Session
H. R. 1621

To amend the Internal Revenue Code of 1986 to make permanent the 2010 increase in the deduction for start-up expenditures.


IN THE HOUSE OF REPRESENTATIVES
April 18, 2013

Mr. Johnson of Georgia (for himself, Ms. Norton, Mr. Conyers, Mr. Lewis, Mr. Moran, Mr. Grijalva, Mr. Clay, Mr. Ellison, Ms. Titus, Mr. McDermott, Ms. Brown of Florida, Mr. Van Hollen, Mr. Peters of Michigan, Mr. Cicilline, Mr. Serrano, Mr. Rangel, Mr. Connolly, Mr. Ryan of Ohio, Ms. Lee of California, Mr. Honda, Ms. Wasserman Schultz, Mr. Hastings of Florida, Mr. Chabot, Ms. Schwartz, Ms. Meng, Mr. Rush, Mr. Bentivolio, Ms. Wilson of Florida, Ms. Fudge, Ms. Sewell of Alabama, Mr. Murphy of Florida, and Ms. Jackson Lee) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to make permanent the 2010 increase in the deduction for start-up expenditures.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Help Entrepreneurs Create American Jobs Act of 2013”.

SEC. 2. Increase in deduction for start-up expenses made permanent.

(a) In general.—Clause (ii) of section 195(b)(1)(A) of the Internal Revenue Code of 1986 is amended—

(1) by striking “$5,000” and inserting “$10,000”, and

(2) by striking “$50,000” and inserting “$60,000”.

(b) Conforming amendment.—Subsection (b) of section 195 of such Code is amended by striking paragraph (3).

(c) Effective date.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.