Manufacturing Reinvestment Account Act of 2011

Summary

Manufacturing Reinvestment Account Act of 2011 - Amends the Internal Revenue Code to establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $500,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Imposes a 10% tax on amounts in an MRA that are not distributed within 7 years. Terminates the tax deduction for payments to an MRA 10 years after the enactment of this Act.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 January 2011

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• Introduced in House (PDF)

  Introduced in House · EN · 5 January 2011

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• Introduced in House

  summary · EN · 5 January 2011

  Open at official source

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