I 112th CONGRESS 2d Session H. R. 4032 IN THE HOUSE OF REPRESENTATIVES February 15, 2012 Mr. Johnson of Georgia (for himself, Mr. Lewis of Georgia, Mr. McDermott, and Mr. Connolly of Virginia) 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 make permanent the 2010 increase in the deduction for start-up expenditures.

1.

Short title

This Act may be cited as the Help Entrepreneurs Create American Jobs Act of 2012.

2.

Increase in deduction for start-up expenses made permanent

(a)

In general

Clause (ii) of section 195(b)(1)(A) of the Internal Revenue Code of 1986 is amended— (1)by striking $5,000 and inserting $10,000, and (2)by striking $50,000 and inserting $60,000. (b)

Conforming amendment

Subsection (b) of section 195 of such Code is amended by striking paragraph (3). (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.