[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1402 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1402

   To amend the Internal Revenue Code of 1986 to increase the amount 
           allowed as a deduction for start-up expenditures.


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                   IN THE SENATE OF THE UNITED STATES

                              July 7, 2009

 Mr. Merkley (for himself and Mr. Alexander) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to increase the amount 
           allowed as a deduction for start-up expenditures.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Jump Start Act of 
2009''.

SEC. 2. INCREASE IN AMOUNT ALLOWED AS DEDUCTION FOR START-UP 
              EXPENDITURES.

    (a) In General.--Subsection (b) of section 195 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(3) Special rule for taxable years beginning in 2009, 
        2010, or 2011.--In the case of a taxable year beginning in 
        2009, 2010, or 2011, paragraph (1)(A)(ii) shall be applied--
                    ``(A) by substituting `$10,000' for `$5,000', and
                    ``(B) by substituting `$60,000' for `$50,000'.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after the 
date of the enactment of this Act.
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