3.0.0 2873 2023-01-11T13:22:25Z 2023-01-11T13:22:25Z House H HR 2011-09-08 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. VELAZQUEZ:H.R. 2873.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1The Congress shall have Power to lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defence and general Welfare of the United States;but all Duties, Imposts and Excises shall be uniformthroughout the United States.[Page H6010]]]> hswm00 Ways and Means Committee House Standing Referred to 2011-09-08T14:01:25Z 2011-09-08 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2011-09-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-09-08 Introduced in House IntroReferral 1000 9 Library of Congress V000081 Rep. Velazquez, Nydia M. [D-NY-12] NYDIA VELAZQUEZ D NY M. 12 N Taxation Employee hiring Income tax credits Small business Wages and earnings Taxation 00 2011-09-08 Introduced in House 2011-10-21T18:53:51Z Small Business Expansion and Hiring Act of 2011 - Amends the Internal Revenue Code to allow nongovernmental employers who employ an average of fewer than 100 employees during a taxable year a retained worker tax credit until December 31, 2012, for the lesser of $4,000 ($6,000 for a long-term unemployed individual) or 6.2% of the wages paid to a retained worker during a period of not less than 52 consecutive weeks of employment.  Limits the amount of such credit with respect to any business location of the employer to $400,000 and provides that the number of retained workers taken into account for such credit shall not exceed the excess of the number of employees of the taxpayer at the end of the taxable year over the number of such employees at the beginning of the taxable year.

Defines "retained worker" to mean any qualified individual who was employed on any date during the taxable year for a period of not less than 52 weeks and whose wages during the last 26 weeks of such period equaled at least 80% of such wages for the first 26 weeks of such period.  Defines "qualified individual" as any individual who: (1) begins employment after 2010 and before 2014, (2) certifies by signed affidavit that such individual has not been employed for 40 hours or more per week during the 60-day period ending on the date such individual begins employment, (3) is not replacing another employee, and (4) is not disqualified for such credit by a relationship to the employer.

]]> Small Business Expansion and Hiring Act of 2011 Display Title Small Business Expansion and Hiring Act of 2011 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide a credit to employers for the retention of certain individuals hired before 2013. Introduced in House IH Short Titles as Introduced Small Business Expansion and Hiring Act of 2011 Introduced in House 2011-09-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2873ih/xml/BILLS-112hr2873ih.xml 2011-09-08 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.