HR 3586 · 109th Congress · Taxation
Small Business Protection Act of 2005
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2005-07-28)
Plain Language Summary
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Small Business Protection Act of 2005 - Amends the Internal Revenue Code to allow certain small business owners a tax deduction for cash contributions to a Small Business Protection Account. Limits the amount of such deduction to 50 percent of a taxpayer's net profits. Directs the Small Business Administration, through the Small Business Development Center Program, to assist small businesses in establishing and operating Small Business Protection Accounts.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (4)
4 Republicans