Creating Tech Startup Jobs Act
Latest action · Apr 10, 2018 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.
- IntroducedApr 10, 2018
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Creating Tech Startup Jobs Act
This bill allows several tax credits for a qualified research intensive small business concern, which is a small business that is not over 10 years old, has fewer than 100 employees, and spends at least 30% of its gross expenditures on research or experimental expenditures.
For a qualified research intensive small business concern, the bill allows
- a research intensive investment credit for taxpayers who acquire an equity investment in the business,
- a research employment credit for a portion of the first-year research wages that the business pays to full-time research employees, and
- a research expenditure credit for a portion of the research or experimental expenditures of the business.
The bill also (1) sets forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, and (2) modifies the tax treatment of partners who provide investment management services to partnerships.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Aug 21, 2018 to Sep 17, 2018.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MS | Bennie G. Thompson | Aug 21, 2018 | |
| D-TX | Sheila Jackson Lee | Sep 17, 2018 |
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 Apr 10, 2018 |
Actions 2
Everything that happened, newest first.
- Apr 10, 2018Introduced in House
- Apr 10, 2018Referred 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. 164, no. 57, April 10, 2018, page H3096.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1020 | Carried Interest Fairness Act of 2017 | Related bill | May 3, 2017 |
| HR 2295 | Carried Interest Fairness Act of 2017 | Related bill | May 2, 2017 |
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 allow a credit against income tax for equity investments in research intensive small business concerns, to provide for the proper tax treatment of personal service income earned in pass-thru entities, and for other purposes.
- Short Titles as Introduced
- Creating Tech Startup Jobs Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Accounting and auditing
- Banking and financial institutions regulation
- Business investment and capital
- Business records
- Capital gains tax
- Corporate finance and management
- Employment taxes
- Family relationships
- Financial services and investments
- Income tax credits
- Income tax rates
- Interest, dividends, interest rates
- Research and development
- Self-employed
- Small business
- Tax administration and collection, taxpayers
- Tax treatment of families
- Taxation
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Apr 10, 2018Introduced 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.
