S.650 - Support Small Business R & D Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Coons, Christopher A. [D-DE] (Introduced 03/15/2017)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Latest Action:||Senate - 08/02/2017 Placed on Senate Legislative Calendar under General Orders. Calendar No. 195. (All Actions)|
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Summary: S.650 — 115th Congress (2017-2018)All Information (Except Text)
Reported to Senate without amendment (08/02/2017)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Support Small Business R & D Act of 2017
(Sec. 3) This bill requires the Small Business Administration (SBA) to develop partnership agreements to:
- provide for development of basic training relating to federal income tax credits benefitting small business concerns and startups, especially credits for research and experimentation, and informational materials relating to such credits, including Internal Revenue Service (IRS) guidance documents;
- provide these basic training and informational materials through electronic resources and at physical locations; and
- make the materials available to SBA business development programs and business development entities that partner with SBA programs, including universities, nonprofits, business incubators, and business accelerators.
(Sec. 5) The bill amends the Small Business Act to require SBA development centers to provide, in conjunction with the IRS, informational materials, education, and basic training to small business concerns relating to federal income tax credits, including credits available to: (1) businesses generally; and (2) small business concerns and startups specifically, especially credits for research and experimentation. Such materials, education, and basic training may be delivered in person or through an Internet website.