Small Business Growth and Worker Assistance Act
Latest action · Jan 9, 2003 Read twice and referred to the Committee on Finance.
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.
- IntroducedJan 9, 2003
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Provides for a 15 year recovery period for restaurant buildings.
Increases the section 179 expensing limit to $50,000.
Amends the Temporary Extended Unemployment Compensation Act of 2002 to extend the temporary extended unemployment compensation program to July 1, 2003.
Amends the Workforce Investment Act of 1998 to authorize FY 2003 appropriations of: (1) $1 billion (currently, such sums as necessary) for youth activities; (2) $2 billion (currently, such sums as necessary) for adult employment and training activities; and (3) $2 billion (currently, such sums as necessary) for dislocated worker employment and training activities.
Declares that, if the Federal medical assistance percentage (FMAP) under title XIX (Medicaid) of the Social Security Act (SSA) for a State for FY 2003 is less than the FMAP for FY 2002, the FY 2002 FMAP shall be substituted for the State's FMAP for the third and fourth calendar quarters of FY 2003. Declares similarly that, if a State's FY 2004 FMAP is less than the FY 2003 FMAP, the FY 2003 FMAP shall be substituted for each calendar quarter of FY 2004.
Requires each eligible State for each calendar quarter for the last two calendar quarters of FY 2003 through FY 2004 to be increased by 1.35 percentage points. Prohibits application of the FMAP increases for a State under this Act with respect to: (1) disproportionate share hospital payments under Medicaid; and (2) payments under SSA titles IV and XXI (State Children's Health Insurance).
Amends SSA title XX (Block Grants to States for Social Services) to appropriate $3 billion for State fiscal relief allotments to be available for obligation through June 30, 2004, and for expenditure through September 30, 2004.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jan 9, 2003 |
Actions 2
Everything that happened, newest first.
- Jan 9, 2003Introduced in Senate
- Jan 9, 2003Read twice and referred to the Committee on Finance.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to increase and modify the exclusion relating to qualified small business stock, to reduce the depreciation recovery period for certain restaurant buildings, and for other purposes.
- Short Titles as Introduced
- Small Business Growth and Worker Assistance Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Agriculture and Food
- Capital gains tax
- Commerce
- Depreciation and amortization
- District of Columbia
- Finance and Financial Sector
- Government Operations and Politics
- Health
- Income tax
- Labor and Employment
- Medicaid
- Minimum tax
- Restaurants
- Securities
- Small business
- State finance
- Tax deductions
- Tax exclusion
- Tax rates
- Taxation
- Territories (U.S.)
- Unemployment insurance
Text 1
Each version as it was printed, newest first.
- Jan 9, 2003Introduced in Senate
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.