A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax for any business which increases the amount of property and services provided to such business by minority-owned small businesses.

Summary

Amends the Internal Revenue Code to allow businesses an income tax credit for 15 percent of the increase in contracts for personal property or services awarded by such businesses to certified minority firms over a specified time period. Defines "certified minority firm" as a firm certified by the Administrator of the Small Business Administration as being socially or economically disadvantaged.

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Timeline

1. 4 November 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 4 November 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 November 1981

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 4 November 1981

  Open at official source

Sponsors

• Rep. Savage, Gus [D-IL-2] · D · Sponsor
• Del. Won Pat, Antonio B. [D-GU-At Large] · D · Sponsor
• Rep. Dwyer, Bernard J. [D-NJ-6] · D · Sponsor
• Rep. Edgar, Robert W. [D-PA-7] · D · Sponsor
• Rep. Foglietta, Thomas M. [D-PA-1] · D · Sponsor
• Rep. Collins, Cardiss [D-IL-7] · D · Sponsor
• Ron Wyden · D · Sponsor
• Rep. Mitchell, Parren J. [D-MD-7] · D · Cosponsor
• Charles Schumer · D · Cosponsor
• Rep. Garcia, Robert [D-NY-18] · D · Cosponsor
• · hswm00 · Standing

Related records

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