American Opportunity Act of 2011
Latest action · Feb 2, 2011 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.
- IntroducedFeb 2, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity. Defines "qualified small business entity" as a domestic corporation or partnership that: (1) is a small business headquarted in the United States, (2) is engaged in a high technology trade or business, (3) has been in existence for less than five years as of the date of the qualified equity investment, and (4) employs less than 100 full-time employees, more than 50% of whom perform substantially all of their services in the United States. Limits the dollar amount of such credit to $500 million for each of calendar years 2011 through 2015.
Requires: (1) the Secretary of the Treasury to prescribe regulations on the allocations of such credit to a small business entity, and (2) the Comptroller General to audit the investment tax credit program.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Feb 16, 2011 to Sep 6, 2011.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MA | Scott P. Brown | Feb 16, 2011 | |
| D-NY | Kirsten E. Gillibrand | Sep 6, 2011 |
Actions 3
Everything that happened, newest first.
- Feb 2, 2011Introduced in Senate
- Feb 2, 2011Read twice and referred to the Committee on Finance.
- Feb 2, 2011Sponsor introductory remarks on measure. (CR S483)
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1960 | Jobs Creation Act | Related bill | Dec 7, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Feb 2, 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.