Brick and Mortar Small Business Tax Credit Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10429 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10429 To amend the Internal Revenue Code of 1986 to establish a State and local general sales tax credit for small businesses. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES December 16, 2024 Mr. Khanna 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 establish a State and local general sales tax credit for small businesses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Brick and Mortar Small Business Tax Credit Act of 2024''. SEC. 2. STATE AND LOCAL GENERAL SALES TAX CREDIT FOR SMALL BUSINESSES. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 45BB. STATE AND LOCAL GEN…