U.S. Congress - H.R.4513 Job Creation Act of 2010
H.R.4513 - Job Creation Act of 2010
To create jobs by providing targeted tax relief to individuals and small businesses, curb frivolous lawsuits, and for other purposes. view all titles (2)
All Bill Titles
- Official: To create jobs by providing targeted tax relief to individuals and small businesses, curb frivolous lawsuits, and for other purposes. as introduced.
- Short: Job Creation Act of 2010 as introduced.
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Official Summary
1/26/2010--Introduced.Job Creation Act of 2010 - Amends the Internal Revenue Code to: (1) extend through 2010 the increased expensing allowance for depreciable business assets; (2) exclude from gross income in 2010 100% of the gain from the sale of small business stock; and (3) exclude froOfficial Summary
1/26/2010--Introduced.Job Creation Act of 2010 - Amends the Internal Revenue Code to:(1) extend through 2010 the increased expensing allowance for depreciable business assets;
(2) exclude from gross income in 2010 100% of the gain from the sale of small business stock; and
(3) exclude from gross income in 2010 all unemployment compensation. Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require all amounts repaid under the Troubled Asset Relief Program (TARP) to reduce the program's purchase authority. Amends Rule 11 of the Federal Rules of Civil Procedure (sanctions for filing a frivolous lawsuit) to:
(1) require courts to award reasonable expenses, including attorney's fees, to a prevailing party in a Rule 11 proceeding (currently discretionary); and
(2) eliminate the 21-day period allowed for withdrawing or correcting a claim deemed frivolous. Requires state courts to apply Rule 11 to actions in state courts that substantially affect interstate commerce. Limits venue for personal injury claims filed in state or federal courts to the county or district:
(1) in which the plaintiff or defendant resides;
(2) where the plaintiff resided at the time of the alleged injury; or
(3) the district in which the defendant's principal place of business is located. Imposes additional sanctions:
(1) on attorneys who are found to violate Rule 11 three or more times; and
(2) for willful and intentional destruction of documents relevant to a pending action in federal court. Establishes a rebuttable presumption of a Rule 11 violation if a plaintiff attempts to litigate a claim that has already been litigated and lost on the merits. Prohibits a court in a Rule 11 proceeding from ordering the nondisclosure of the record of the proceeding unless the court makes a specific finding of fact that justifies such an order.
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Recent Blog Coverage
House and Senate Introduce Bills to Promote Job Growth
introduced the Job Creation Act of 2010 (HR 4513), a bill containing a five-point plan calling for tax relief for small business investments and capital gains, a one year elimination of taxes on unemployment benefits, and using repaid ...
WashingtonWatch.com - H.R. 4513, The Job Creation Act of 2010
US Congress: HR 4513, The Job Creation Act of 2010.
WashingtonWatch.com - H.R. 4513, The Job Creation Act of 2010
US Congress: HR 4513, The Job Creation Act of 2010.
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