United States · Bill · HR
H.R. 4849 (111th)
Small Business and Infrastructure Jobs Tax Act of 2010
Introduced
16 March 2010
Last action
26 March 2010 · Introduced
Status
Read twice and referred to the Committee on Finance.
Sponsors
Rep. Levin, Sander M. [D-MI-12], Rep. Rangel, Charles B. [D-NY-15], Rep. Lewis, John [D-GA-5], Rep. Neal, Richard E. [D-MA-1], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Thompson, Mike [D-CA-4], Rep. Larson, John B. [D-CT-1], Rep. Kind, Ron [D-WI-3], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Berkley, Shelley [D-NV-1], Rep. Crowley, Joseph [D-NY-14], Sen. Van Hollen, Chris [D-MD], Rep. Schwartz, Allyson Y. [D-PA-13], Rep. Davis, Artur [D-AL-7], Rep. Davis, Danny K. [D-IL-7], Rep. Etheridge, Bob [D-NC-2], Rep. Sánchez, Linda T. [D-CA-38], Rep. Yarmuth, John A. [D-KY-3]
Subjects
Housing, Agriculture, Energy, Transport, Taxation
Source updated
7 April 2025
Housing · Agriculture · Energy · Transport · Taxation
Summary
Small Business and Infrastructure Jobs Tax Act of 2010 - Amends the Internal Revenue Code to: (1) allow a 100% exclusion from gross income of gain from the sale of qualified small business stock acquired after March 15, 2010, and before January 1, 2012; (2) limit the penalty for failure to disclose a reportable transaction (a transaction determined by the Internal Revenue Service (IRS) as having a potential for tax avoidance or evasion) to 75% of the decrease in tax resulting from such transaction; (3) revise the definition of "qualified nonrecourse financing" to include qualified nonrecourse real property or Small Business Investment Company financing as amounts at risk for purposes of determining the deductibility of losses from certain investment activities, including farming, leasing, and energy exploration; (4) increase in 2010 and 2011 the tax deduction for business start-up expenditures; (5) extend through June 30, 2013, the period for issuing Build America Bonds; (6) exempt private activity bonds for sewage and water supply facilities from the state volume caps applicable to such bonds; (7) extend through 2011 the exemption from alternative minimum tax (AMT) treatment of interest on certain tax-exempt bonds; (8) allow elective payments in lieu of low-income housing tax credits for low-income buildings financed by tax-exempt bonds; (9) extend through 2011 the period for issuing recovery zone bonds; and (10) allow an full offset against the AMT for new market tax credit amounts. Sets forth revenue-raising provisions, including: (1) a prohibition of any reduction of tax withholding for payments made by a U.S. subsidiary of a foreign parent corporation to a related subsidiary in any country that has a tax treaty with the United States, except for payments made directly to the foreign parent corporation; (2) recognition of gain from the transfer of securities of a controlled corporation in a reorganization; (3) the repeal of tax treatment as foreign source income of interest and dividends paid by certain resident alien individuals and U.S. corporations; (4) treating rental income from real estate as a trade or business activity for tax reporting purposes; (5) expanding the continuous tax levy on payments to vendors for good and services to include payments for all property, goods, or services and for delinquent employment taxes owed by such vendors; (6) revising requirements for grantor retained annuity trusts to require a minimum 10-year period for payments from such trusts; and (7) increasing tax penalties for failure to file correct information returns and for the intentional disregard of reporting requirements. Requires the Commissioner of Internal Revenue to report by December 31, 2010, and then annually to the House Committee on Ways and Means and the Senate Committee on Finance on penalties relating to tax shelters and reportable transactions.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
16 March 2010
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
16 March 2010
Introduced
Introduced in House
Source: IntroReferral
16 March 2010
Introduced
Introduced in House
Source: IntroReferral
17 March 2010
Vote
Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 15.
Source: Committee
17 March 2010
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
19 March 2010
Calendars
Placed on the Union Calendar, Calendar No. 257.
Source: Calendars
19 March 2010
Reported
Reported (Amended) by the Committee on Ways and Means. H. Rept. 111-447.
Source: Committee
19 March 2010
Reported
Reported (Amended) by the Committee on Ways and Means. H. Rept. 111-447.
Source: Committee
22 March 2010
Reported
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.
Source: Floor
23 March 2010
Passed
Rule H. Res. 1205 passed House.
Source: Floor
24 March 2010
Vote
On passage Passed by recorded vote: 246 - 178 (Roll no. 182). (text: CR H2281-2285)
Source: Floor
24 March 2010
Vote
Passed/agreed to in House: On passage Passed by recorded vote: 246 - 178 (Roll no. 182).(text: CR H2281-2285)
Source: Floor
24 March 2010
Vote
On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 239 (Roll no. 181).
Source: Floor
24 March 2010
Floor
The previous question on the motion was ordered pursuant to the rule. (consideration: CR H2297)
Source: Floor
24 March 2010
Floor
Mr. Camp moved to recommit with instructions to Ways and Means. (consideration: CR H2295-2298; text: CR H2295-2296)
Source: Floor
24 March 2010
Floor
The previous question was ordered pursuant to the rule. (consideration: CR H2295)
Source: Floor
24 March 2010
Floor
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.
Source: Floor
24 March 2010
Floor
Considered under the provisions of rule H. Res. 1205. (consideration: CR H2281-2299)
Source: Floor
25 March 2010
Introduced
Received in the Senate.
Source: IntroReferral
26 March 2010
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Referred in Senate · 26 March 2010 · Download file
- Engrossed in House · 24 March 2010 · Download file
- Reported in House · 19 March 2010 · Download file
- Introduced in House · 16 March 2010 · Download file
Documents
11 official files
Referred in Senate (text)
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Referred in Senate (text)
Referred in Senate · EN · 26 March 2010
Referred in Senate (PDF)
Referred in Senate · EN · 26 March 2010
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Engrossed in House (text)
Engrossed in House · EN · 24 March 2010
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Engrossed in House (PDF)
Engrossed in House · EN · 24 March 2010
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Passed House amended
summary · EN · 24 March 2010
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Reported in House (text)
Reported in House · EN · 19 March 2010
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Reported in House (PDF)
Reported in House · EN · 19 March 2010
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Reported to House with amendment(s)
summary · EN · 19 March 2010
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Introduced in House (text)
Introduced in House · EN · 16 March 2010
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Introduced in House (PDF)
Introduced in House · EN · 16 March 2010
ViewDownloadOpen at official source
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Introduced in House
summary · EN · 16 March 2010
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
- Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
- Rep. Lewis, John [D-GA-5] · D · Sponsor
- Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
- Rep. Pomeroy, Earl [D-ND-At Large] · D · Sponsor
- Rep. Thompson, Mike [D-CA-4] · D · Sponsor
- Rep. Larson, John B. [D-CT-1] · D · Sponsor
- Rep. Kind, Ron [D-WI-3] · D · Sponsor
- Rep. Pascrell, Bill, Jr. [D-NJ-9] · D · Sponsor
- Rep. Berkley, Shelley [D-NV-1] · D · Sponsor
- Rep. Crowley, Joseph [D-NY-14] · D · Sponsor
- Sen. Van Hollen, Chris [D-MD] · D · Sponsor
- Rep. Schwartz, Allyson Y. [D-PA-13] · D · Sponsor
- Rep. Davis, Artur [D-AL-7] · D · Sponsor
- Rep. Davis, Danny K. [D-IL-7] · D · Sponsor
- Rep. Etheridge, Bob [D-NC-2] · D · Sponsor
- Rep. Sánchez, Linda T. [D-CA-38] · D · Sponsor
- Rep. Yarmuth, John A. [D-KY-3] · D · Sponsor
- · ssfi00 · Standing
- · hswm00 · Standing
Related records
- related to → Providing for consideration of the bill (H.R. 4849) to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, extend the Build America Bonds program, provide other infrastructure job creation tax incentives, and for other purposes.
- amends ← Pursuant to the provisions of H.Res. 1205, the amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill, modified by the amendment printed in the report of the Committee on Rules accompanying this resolution, shall be considered as adopted.
- amends ← SAMDT 4810
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/111th-congress/house-bill/4849
- Open data entity: https://api.congress.gov/v3/bill/111/hr/4849
- us · 111-hr-4849 · source updated 7 April 2025