Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015
Latest action · Jan 9, 2015 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.
- IntroducedJan 9, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015
This bill creates tax-exempt small business start-up accounts to pay for the start-up expenses (defined as expenses for investigating the creation or acquisition of an active trade or business) of a business that does not employ more than 50 full-time employees during a taxable year. Cash contributions to such accounts are allowed up to the lesser of $10,000 or the amount of compensation includible in the taxpayer's gross income for the taxable year.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jan 26, 2015.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Jose E. Serrano | Jan 26, 2015 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jan 9, 2015 |
Actions 2
Everything that happened, newest first.
- Jan 9, 2015Introduced in House
- Jan 9, 2015Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 4, January 9, 2015, page H189.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to provide for the tax treatment of small business start-up savings accounts.
- Short Titles as Introduced
- Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jan 9, 2015Introduced in House
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.
