Congress 118 - HR 3937 - Small Business Jobs Act

Sponsor

Cosponsors

Topics

Administrative law and regulatory procedures Business investment and capital Capital gains tax Inflation and prices Internal Revenue Service (IRS) Rural conditions and development Securities Small business Tax administration and collection, taxpayers Taxation

Full Text

Votes

Summary

Small Business Jobs Act

This bill provides tax incentives for investment in small businesses. Among other provisions, the bill

increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor,
restores reporting requirements for third party network transactions,
modifies the exclusion of gain from the sale of qualified small business stock,
increases the ceiling for expensing of depreciable business assets,
establishes rural opportunity zones, and
reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.

Actions

Jun 30, 2023

Placed on the Union Calendar, Calendar No. 100.
Jun 30, 2023

Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-128.
Jun 13, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
Jun 13, 2023

Committee Consideration and Mark-up Session Held
Jun 9, 2023

Referred to the House Committee on Ways and Means.
Jun 9, 2023

Introduced in House

Amendments

Related Bills