AGREE Act
Latest action · Nov 16, 2011 Sponsor introductory remarks on measure. (CR S7594-7596)
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.
- IntroducedNov 15, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
American Growth, Recovery, Empowerment, and Entrepreneurship Act or the AGREE Act - Amends the Internal Revenue Code to extend certain tax expenditure provisions for business taxpayers, including: (1) bonus depreciation and expensing of business and investment assets, (2) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock, and (3) the tax credit for increasing research expenses.
Increases to 20% the rate of the alternative simplified research tax credit and makes such credit permanent. Increases the research tax credit for the research expenses of manufacturers whose domestic production gross receipts exceed 50% of their total production gross receipts.
Allows a business-related tax credit of up to $100,000 for 25% of the franchise fees paid or incurred by a veteran for the purchase of a franchise.
Amends the Sarbanes-Oxley Act of 2002 to exempt certain small issuers of securities from the internal control reporting and assessment requirements of such Act.
Amends the Immigration and Nationality Act to: (1) eliminate the per country numerical limitation for employment-based immigrants, and (2) increase the per country numerical limitation for family based immigrants from 7% to 15% of the total number of family-sponsored visas.
Amends the Chinese Student Protection Act of 1992 to eliminate the provision requiring the reduction of annual People's Republic of China immigrant visas to offset status adjustments under such Act.
Sets forth a transition period for employment-based immigrant visas and per country distribution rules for reserved and unreserved visas.
Authorizes the Secretary of Homeland Security (DHS) to share information and provide: (1) unredacted samples of the products, packaging, and labels, or related photos with trademark right holders if United States Customs and Border Protection suspects an import or export violation under specified provisions of the Lanham Act relating to copied or simulated marks or names; and (2) samples to affected parties upon the seizure of material imported in violation of specified federal copyright laws prohibiting the circumvention of technological measures that control access to or protect a copyrighted work.
Cosponsors 11
Members who signed on, in the order they did. Signatures ran from Nov 15, 2011 to Dec 17, 2011; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Marco Rubio | Original | Nov 15, 2011 |
| D-NY | Kirsten E. Gillibrand | Nov 16, 2011 | |
| R-MO | Roy Blunt | Nov 16, 2011 | |
| D-PA | Robert P. Casey Jr. | Nov 28, 2011 | |
| D-AK | Mark Begich | Dec 1, 2011 | |
| R-MS | Roger F. Wicker | Dec 1, 2011 | |
| D-NY | Charles E. Schumer | Dec 8, 2011 | |
| R-ID | James E. Risch | Dec 8, 2011 | |
| R-UT | Mike Lee | Dec 8, 2011 | |
| R-MA | Scott P. Brown | Dec 12, 2011 | |
| R-AR | John Boozman | Dec 17, 2011 |
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 Nov 15, 2011 |
Actions 3
Everything that happened, newest first.
- Nov 16, 2011Sponsor introductory remarks on measure. (CR S7594-7596)
- Nov 15, 2011Introduced in Senate
- Nov 15, 2011Read twice and referred to the Committee on Finance.
In the Congressional Record 3
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S3764, S3765 | Christopher A. Coons D-DE, Jerry Moran R-KS | Jun 6, 2012 |
| Senate | Debate and remarks S1830 | Christopher A. Coons D-DE | Mar 20, 2012 |
| Senate | Debate and remarks S7594–S7596 | Christopher A. Coons D-DE, Marco Rubio R-FL | Nov 16, 2011 |
Related bills 11
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 155 | Domestic Jobs Innovation Bonus Act | Related bill | Jan 25, 2011 |
| HR 942 | American Research and Competitiveness Act of 2011 | Related bill | Mar 8, 2011 |
| S 1540 | Help Veterans Own Franchises Act | Related bill | Sep 12, 2011 |
| HR 1693 | Research and Development Tax Credit Extension Act of 2011 | Related bill | May 3, 2011 |
| S 1801 | Small Business Jobs Tax Extenders Act of 2011 | Related bill | Nov 3, 2011 |
| S 1857 | Fairness for High-Skilled Immigrants Act | Related bill | Nov 10, 2011 |
| S 1873 | Bonus Depreciation and Small Business Expense Extension Act | Related bill | Nov 15, 2011 |
| S 1983 | Fairness for High-Skilled Immigrants Act of 2011 | Related bill | Dec 13, 2011 |
| HR 2888 | Help Veterans Own Franchises Act | Related bill | Sep 12, 2011 |
| HR 3012 | Fairness for High-Skilled Immigrants Act of 2011 | Related bill | Jan 23, 2012 |
| HR 3476 | AGREE Act | Identical bill | Jan 12, 2012 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide incentives for economic growth, and for other purposes.
- Short Titles as Introduced
- American Growth, Recovery, Empowerment, and Entrepreneurship Act
- AGREE Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Accounting and auditing
- Administrative law and regulatory procedures
- Asia
- Business investment and capital
- Capital gains tax
- China
- Computers and information technology
- Corporate finance and management
- Customs enforcement
- Foreign labor
- Fraud offenses and financial crimes
- Government information and archives
- Government studies and investigations
- Income tax credits
- Income tax deductions
- Income tax exclusion
- Inflation and prices
- Intellectual property
- Manufacturing
- Research and development
- Retail and wholesale trades
- Securities
- Small business
- Taxation
- Veterans' education, employment, rehabilitation
- Veterans' organizations and recognition
- Visas and passports
Text 1
Each version as it was printed, newest first.
- Nov 15, 2011Introduced 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.
