A bill to amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities.
Latest action · Sep 20, 2012 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.
- IntroducedSep 20, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to exempt from passive loss rules any activity of a taxpayer carried on by a high technology research small business pass-thru entity. Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity that: (1) spends a specified percentage of its income on research, (2) is a small business with 250 or fewer employees, and (3) does not have aggregate gross receipts in excess of $150 million.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 20, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-ME | Olympia J. Snowe | Original | Sep 20, 2012 |
Actions 2
Everything that happened, newest first.
- Sep 20, 2012Introduced in Senate
- Sep 20, 2012Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 6559 | To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities. | Identical bill | Sep 25, 2012 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 20, 2012Introduced 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.