Small Business Incentives Act

[AI summary unavailable — showing source text] Small Business Incentives Act - Title I: Amends the Internal Revenue Code to require that unemployment compensation shall not be denied to any individual solely on the grounds that such individual's unemployment is the result of the closing of a business establishment or other entity in which such individual had an ownership interest. Permits the owner-employee of a small business to deduct one-half of the social security taxes paid on self-employment income for taxable years beginning after December 31, 1985. Provides that there is to be an annual inflation adjustment to the threshold amount which must be paid to agricultural workers before an employer becomes subject to the Federal Unemployment Tax Act. Sets the threshold amount at $30,000 for calendar year 1986. Title II: Regulatory Reform - Authorizes appropriations necessary to carry out the provisions of the Paperwork Reduction Act. Repeals the authority of an agency to override the disapproval of a proposed information collection request. Prohibits any agency from requiring any person to maintain, prepare, or produce any record after the expiration of three years after the date of the transaction or event which is the subjec…