HR 656 · 107th Congress 2001–2003, ended

Cash Accounting for Small Business Act of 2001

Introduced Feb 14, 2001 Originated House Sponsor Wally Herger R-CA

Fact sheet

Latest action · Feb 14, 2001 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedFeb 14, 2001
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Cash Accounting for Small Business Act of 2001 - Amends the Internal Revenue Code to prohibit an eligible taxpayer from being required to use an accrual method of accounting for a taxable year if the such taxpayer's average annual gross receipts for the preceding three-year period does not exceed $5 million (to be adjusted for inflation).

States that eligible small business taxpayers shall not be required to use inventories, and that property shall be treated as a material which is not incidental.

Cosponsors 19

Members who signed on, in the order they did. Signatures ran from Feb 14, 2001 to Feb 5, 2002, with 3 there on the day it was introduced.

Seat	Cosponsor		Signed on
R-IL	Donald A. Manzullo	Original	Feb 14, 2001
D-TN	John S. Tanner	Original	Feb 14, 2001
D-NY	Nydia M. Velázquez	Original	Feb 14, 2001
R-IL	Philip M. Crane		May 3, 2001
R-OH	Michael G. Oxley		May 25, 2001
R-IN	Dan Burton		Jun 14, 2001
R-TX	Ron Paul		Jun 14, 2001
R-IN	Mike Pence		Jun 26, 2001
R-IN	Brian D. Kerns		Jun 27, 2001
D-VI	Donna M. Christensen		Jun 27, 2001
R-CO	Thomas G. Tancredo		Jun 27, 2001
D-FL	Karen L. Thurman		Jul 17, 2001
D-LA	William J. Jefferson		Jul 17, 2001
D-UT	Jim Matheson		Aug 2, 2001
R-NY	John M. McHugh		Aug 2, 2001

Show all 19 cosponsors

Actions 3

Everything that happened, newest first.

Feb 14, 2001Introduced in House
Feb 14, 2001Referred to the House Committee on Ways and Means.
Feb 14, 2001Sponsor introductory remarks on measure. (CR E177)

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 336	Cash Accounting for Small Business Act of 2001	Identical bill	Feb 14, 2001

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.