S.256 - American Opportunity Act of 2011

A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for equity investments in small business concerns. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for equity investments in small business concerns. as introduced.
  • Short: American Opportunity Act of 2011 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 3
  • All-Time: 4,641
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
02/02/11
 
 
 
 
 
 
 

Official Summary

American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity. Defines \"qualified small business entity\" as a domestic corporation or partnership that: (1) is a small business headqua

Official Summary

American Opportunity Act of 2011 - Amends the Internal Revenue Code to allow a tax credit for 25% of a qualified equity investment in a qualified small business entity. Defines \"qualified small business entity\" as a domestic corporation or partnership that:
(1) is a small business headquarted in the United States,
(2) is engaged in a high technology trade or business,
(3) has been in existence for less than five years as of the date of the qualified equity investment, and
(4) employs less than 100 full-time employees, more than 50% of whom perform substantially all of their services in the United States. Limits the dollar amount of such credit to $500 million for each of calendar years 2011 through 2015. Requires:
(1) the Secretary of the Treasury to prescribe regulations on the allocations of such credit to a small business entity, and
(2) the Comptroller General to audit the investment tax credit program.

...Read the Rest




Vote on This Bill

100% Users Support Bill

6 in favor / 0 opposed
 

Send Your Senator a Letter

about this bill Support Oppose Tracking
Track with MyOC