HR 253 · 114th Congress · Taxation

Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015

Introduced 2015-01-09· Sponsored by Rep. Honda, Michael M. [D-CA-17]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2015-01-09)

Plain Language Summary

[AI summary unavailable — showing source text] Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015 This bill creates tax-exempt small business start-up accounts to pay for the start-up expenses (defined as expenses for investigating the creation or acquisition of an active trade or business) of a business that does not employ more than 50 full-time employees during a taxable year. Cash contributions to such accounts are allowed up to the lesser of $10,000 or the amount of compensation includible in the taxpayer's gross income for the taxable year.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat