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S. 364

BillFederalSenateIn Committee
A bill to amend the Internal Revenue Code of 1986 to establish a new Small Business Savings Account.
About This Bill
Committee
Latest Action · February 16, 2011
Read twice and referred to the Committee on Finance.
Congress
112th (2011–2013)
Introduced
February 16, 2011
Cosponsors (3)
2D 1R
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Summary

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Amends the Internal Revenue Code to provide for tax preferred Small Business Savings Accounts to pay for trade or business expenses, including operating capital, the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).

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