H.R. 7505 (116th)

American Innovation Act of 2020

referredUnited States· United States Congress· EN

Introduced

9 July 2020

Last action

9 July 2020 · Introduced

Status

Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summary

American Innovation Act of 2020 This bill revises the tax treatment of business start-up or organizational expenditures. Specifically, it allows an election to deduct such expenditures in an amount equal to the lesser of the aggregate amount of such expenditures incurred by an active trade of business or $20,000, reduced by the amount by which such aggregate amount exceeds $120,000. The remaining amount of such expenditures shall be amortized over the 180 month period after the trade or business begins. The bill also revises the tax treatment of partnership syndication fees and start-up net operating losses and tax credits after an ownership change.

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

Timeline

9 July 2020
Introduced
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
9 July 2020
Referred
Referred to the Subcommittee on Select Revenue Measures.
Source: Committee
9 July 2020
Introduced
Introduced in House
Source: IntroReferral
9 July 2020
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in House · 9 July 2020 · Download file

Documents

3 official files

Introduced in House (text)

View file Download file

This file cannot be previewed here. Use View or Download.

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Vertaal naar

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Introduced in House (text)
Introduced in House · EN · 9 July 2020
View Download Open at official source
Introduced in House (PDF)
Introduced in House · EN · 9 July 2020
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Introduced in House
summary · EN · 9 July 2020
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → Support Our Start-Ups Act
related to → American Innovation Act of 2022
related to ← American Innovation Act of 2018

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/116th-congress/house-bill/7505
Open data entity: https://api.congress.gov/v3/bill/116/hr/7505
us · 116-hr-7505 · source updated 7 April 2025