To allow Connecticut to permit certain recipients of aid to families with dependent children a one-time election to purchase capital equipment for a small business, to prohibit depreciation of such equipment, and to require that repayments by such persons of the principal portion of small business loans be treated as business expenses for purposes of the program of aid to families with dependent children.

Summary

Amends the Social Security Act to authorize Connecticut, for purposes of the aid to families with dependent children program (AFDC), to permit a self-employment program participant: (1) a one-time election to expense rather than depreciate purchased capital equipment; and (2) to expense principal repayments on a business loan. Amends the Internal Revenue Code to prohibit a depreciation deduction for certain property of AFDC recipients.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 September 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 September 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 September 1991

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 October 1991

   Referred

   Referred to the Subcommittee on Human Resources.

   Source: Committee

Votes

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Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 September 1991

  Open at official source

Sponsors

• Rep. Kennelly, Barbara B. [D-CT-1] · D · Sponsor
• · hswm00 · Standing

Related records

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