House Bill 4175
115th Congress(2017-2018)
Invest in Innovative Small Businesses Act
Introduced
Introduced in House on Oct 31, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4175
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Invest in Innovative Small Businesses Act
This bill amends the Internal Revenue Code to allow a new business-related tax credit equal to 25% of the equity investments made by a qualified investor in a domestic corporation or partnership that:
- is a small business,
- has its headquarters in the United States,
- is engaged in a specified high technology trade or business,
- has been in existence for less than 5 years,
- employs fewer than 100 full-time employees,
- has more than 50% of its employees performing substantially all of their services in the United States, and
- has certain equity investments designated for the purposes of this bill that do not exceed specified amounts.
The bill limits the allowable amount of such credit to the excess of the sum of regular tax liability, plus the tax under provisions regarding the alternative minimum tax, over the sum of specified tax credits allowed for the year. It also imposes an overall limitation on such credit of $500 million for each of calendar years 2018 through 2022.
October 31, 2017
10/31/2017
Referred to the House Committee on Ways and Means.
10/31/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:21 PM