HR 5318 · 111th Congress · Taxation
Small Business Investment Penalty Relief Act of 2010
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2010-05-14)
Plain Language Summary
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Small Business Investment Penalty Relief Act of 2010 - Amends the Internal Revenue Code to waive the 10% penalty on premature distributions made in 2010 or 2011 from a tax-exempt retirement plan if made for investment in a qualified small business (defined as having gross receipts not exceeding $20 million or not more than 50 full-time employees during the preceding taxable year).…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
20 Republicans