Small Business Bill of Rights

[AI summary unavailable — showing source text] Small Business Bill of Rights This bill modifies tax provisions, regulatory requirements, and legal procedures that affect small businesses. Bringing Business Back Act of 2016 The bill amends the Internal Revenue Code to allow a tax exclusion for certain income attributable to real property in areas that meet criteria regarding unemployment, poverty, or other signs of distress. The bill temporarily reduces the capital gains tax on certain small business stock, increases the deduction for start-up expenditures, and exempts small businesses from tax increases. Federal agencies must review existing and proposed regulations that affect small businesses using specified criteria. Certain new small business regulations must expire after seven years, unless they are renewed. Death Tax Repeal Act of 2016 The bill repeals the estate and generation-skipping transfer taxes and makes permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. It also extends or makes permanent several tax credits and deductions related to energy efficiency. With respect to the legal process, the bill establishes requirements and limitations for lawsuits arising from health care liability claims…