H.R.30 - Small Business Investment Enhancement and Tax Relief Act113th Congress (2013-2014)
|Sponsor:||Rep. Velazquez, Nydia M. [D-NY-12] (Introduced 01/03/2013)|
|Committees:||House - Small Business; Ways and Means|
|Latest Action:||01/03/2013 Referred to House Ways and Means (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.30 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (01/03/2013)
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.