3.0.0 774 2019-11-15T21:47:12Z 2019-11-15T21:47:12Z House H HR 2013-02-15 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARDNER:H.R. 774.Congress has the power to enact this legislation pursuantto the following:Clause 1, Section 8 of Article I of the United StatesConstitution which reads: ``The Congress shall have Power tolay and collect Taxes, Duties, Imposts, and Excises, to paythe Debts, and provide for the common Defense and GeneralWelfare of the United States; but all Duties and Imposts andExcises shall be uniform throughout the United States.''[Page H598]]]> hswm00 Ways and Means Committee House Standing Referred to 2013-02-15T14:00:33Z 2013-02-15 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2013-02-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-02-15 Introduced in House IntroReferral 1000 9 Library of Congress G000562 Rep. Gardner, Cory [R-CO-4] Cory Gardner R CO 4 N C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2013-02-15 True L000571 Rep. Lummis, Cynthia M. [R-WY-At Large] Cynthia Lummis R WY M. 0 2013-02-15 True D000612 Rep. Denham, Jeff [R-CA-10] Jeff Denham R CA 10 2013-02-15 True B001271 Rep. Benishek, Dan [R-MI-1] Dan Benishek R MI 1 2013-02-15 True B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2013-02-15 True G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2013-02-15 True L000578 Rep. LaMalfa, Doug [R-CA-1] Doug LaMalfa R CA 1 2013-02-15 True W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2013-02-15 True W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2013-02-15 True S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2013-02-25 False Taxation Bank accounts, deposits, capital Business investment and capital Employee benefits and pensions Income tax deductions Income tax exclusion Sales and excise taxes Small business Taxation 00 2013-02-15 Introduced in House 2013-03-23T14:52:03Z Small Business Start-up Savings Accounts Act of 2013 - Amends the Internal Revenue Code to allow businesses with 500 or fewer employees to establish small business start-up savings accounts for the payment of certain business expenses, including the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Requires all distributions from such accounts for payment of business expenses to be completed within five years after the first account distribution.

Allows a tax deduction for contributions to a start-up savings account, limited to the lesser of: (1) $10,000, or (2) $150,000 reduced by the aggregate account contributions for all taxable years. Excludes distributions from such accounts from gross income for income tax purposes. Imposes an excise tax on excess contributions to and for nonqualified distributions from such accounts.

]]> Small Business Start-up Savings Accounts Act of 2013 Short Titles as Introduced Small Business Start-up Savings Accounts Act of 2013 Display Title Small Business Start-up Savings Accounts Act of 2013 Official Title as Introduced To amend the Internal Revenue Code of 1986 to establish small business start-up savings accounts. Introduced in House 2013-02-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr774ih/xml/BILLS-113hr774ih.xml 2013-02-15 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.