3.0.0 1237 2023-01-11T13:22:53Z 2023-01-11T13:22:53Z Senate S S 2011-06-21 112 ssfi00 Finance Committee Senate Standing Referred to 2011-06-21T18:53:39Z 112 110 HR 2011-01-05 Referred to the House Committee on Ways and Means. Identical bill CRS 2011-06-21 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2011-06-21 Introduced in Senate IntroReferral 10000 9 Library of Congress B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT N L000304 Sen. Lieberman, Joseph I. [ID-CT] JOSEPH LIEBERMAN ID CT I. 2011-06-21 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2011-06-21 True Taxation Business investment and capital Income tax deductions Income tax exclusion Manufacturing Taxation

00 2011-06-21 Introduced in Senate 2011-07-28T19:19:15Z Manufacturing Reinvestment Account Act of 2011 - Amends the Internal Revenue Code to establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $500,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Imposes a 10% tax on amounts in an MRA that are not distributed within 7 years. Terminates the tax deduction for payments to an MRA 10 years after the enactment of this Act.

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Display Title Official Title as Introduced Introduced in Senate IS Short Titles as Introduced Introduced in Senate 2011-06-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s1237is/xml/BILLS-112s1237is.xml 2011-06-21 Read twice and referred to the Committee on Finance. 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.