I 112th CONGRESS 1st Session H. R. 3231 IN THE HOUSE OF REPRESENTATIVES October 14, 2011 Mr. Meehan (for himself, Mr. Connolly of Virginia, Mr. Carney, and Mr. Stivers) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the amount allowed as a deduction for start-up expenditures.

1.

Increase in amount allowed as deduction for start-up expenditures

(a)

In general

Paragraph (3) of section 195(b) of the Internal Revenue Code of 1986 is amended to read as follows: (3)

Special rule for taxable years beginning in 2011, 2012, 2013, or 2014

In the case of a taxable year beginning in 2011, 2013, or 2014, paragraph (1)(A)(ii) shall be applied— (A)by substituting $20,000 for $5,000, and (B)by substituting $75,000 for $50,000. . (b)

Effective date

The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2010.