Bills
H.R.4849

H.R.4849: Small Business and Infrastructure Jobs Tax Act of 2010

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About This Bill

This bill was introduced in the 111th Congress
This bill is primarily about taxation
Introduced March 16, 2010
Latest Major Action March 26, 2010

Bill Sponsor

Sander M. Levin (D-Mich.)

Bill Cosponsors

17 (All Democrats)

Bill Summary

Small Business and Infrastructure Jobs Tax Act of 2010 - Title I: Small Business Tax Incentives - Subtitle A: General Provisions - (Sec. 101) Amends the Internal Revenue Code to allow a 100% exclusion from gross income of the gain from the sale of qualified small business stock acquired after March 15, 2010, and before January 1, 2012. Exempts such gain from the alternative minimum tax (AMT). Subtitle B: Limitations and Reporting on Certain...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There are 3 statements associated with H.R.4849.

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Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.4849.

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Bill Actions

Date	Description
	Referred to the House Committee on Ways and Means.
	Committee Consideration and Mark-up Session Held.
	Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 15.
	Reported (Amended) by the Committee on Ways and Means. H. Rept. 111-447.
	Placed on the Union Calendar, Calendar No. 257.
	Rules Committee Resolution H. Res. 1205 Reported to House. Rule provides for consideration of H.R. 4849 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI.
	Rule H. Res. 1205 passed House.
	Considered under the provisions of rule H. Res. 1205.
	Rule provides for consideration of H.R. 4849 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI.
	DEBATE - The House proceeded with one hour of debate on H.R. 4849.
	The previous question was ordered pursuant to the rule.
	Mr. Camp moved to recommit with instructions to Ways and Means.
	DEBATE - The House proceeded with 10 minutes of debate on the Camp motion to recommit with instructions, pending reservation of a point of order. Subsequently, the point of order was removed. The instructions contained in the motion seek to report the same back to the House with an amendment to put a temporary exclusion of 100 percent of gain on certain small business stock; to put a limitation on penalties for failure to disclose certain information; and to direct the Commissioner of Internal Revenue to submit an annual report on the penalties assessed by the Internal Revenue Service.
	The previous question on the motion was ordered pursuant to the rule.
	On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 239 (Roll no. 181).
	On passage Passed by recorded vote: 246 - 178 (Roll no. 182).
	Received in the Senate.
	Read twice and referred to the Committee on Finance.
March 16, 2010	Introduced in the House by Sander M. Levin (D-Mich.)

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