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- H.R.5318
H.R.5318: Small Business Investment Penalty Relief Act of 2010
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced May 14, 2010
- Latest Major Action May 14, 2010
Bill Sponsor
Bill Cosponsors
25 (1 Democrat, 24 Republicans)
Bill Summary
Small Business Investment Penalty Relief Act of 2010 - Amends the Internal Revenue Code to waive the 10% penalty on premature distributions made in 2010 or 2011 from a tax-exempt retirement plan if made for investment in a qualified small business (defined as having gross receipts not exceeding $20 million or not more than 50 full-time employees during the preceding taxable year).
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| May 14, 2010 |
Introduced in the House by Phil Gingrey (R-Ga.) |