Small Business Bill of Rights

Summary

Small Business Bill of Rights This bill modifies tax provisions, regulatory requirements, and legal procedures that affect small businesses. Bringing Business Back Act of 2016 The bill amends the Internal Revenue Code to allow a tax exclusion for certain income attributable to real property in areas that meet criteria regarding unemployment, poverty, or other signs of distress. The bill temporarily reduces the capital gains tax on certain small business stock, increases the deduction for start-up expenditures, and exempts small businesses from tax increases. Federal agencies must review existing and proposed regulations that affect small businesses using specified criteria. Certain new small business regulations must expire after seven years, unless they are renewed. Death Tax Repeal Act of 2016 The bill repeals the estate and generation-skipping transfer taxes and makes permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. It also extends or makes permanent several tax credits and deductions related to energy efficiency. With respect to the legal process, the bill establishes requirements and limitations for lawsuits arising from health care liability claims regarding health care goods or services or any medical product affecting interstate commerce. The bill amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to permit verifications under the E-Verify program to be provided by telephone. The bill amends the Small Business Act to modify policies regarding goals for participation of small businesses in procurement contracts and the bundling of contracts. It also establishes criminal penalties for making false statements regarding status as a small business concern or compliance with the Small Business Act to obtain, retain, or complete a federal contract.

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Timeline

1. 7 September 2016

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 7 September 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 September 2016 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 September 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 September 2016

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 7 September 2016

  Open at official source

  Leesvertaling

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

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

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

Sponsors

• Sen. Kirk, Mark Steven [R-IL] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Death Tax Repeal Act of 2015
• related to → Small Business Regulatory Sunset Act of 2015
• related to → Excellence in Medicare Act
• related to → Help Efficient, Accessible, Low-cost, Timely Healthcare (HEALTH) Act of 2016
• related to → Small Business Regulatory Sunset Act of 2015
• related to → Death Tax Repeal Act of 2015
• related to ← Bringing Business Back Act of 2016