HR 1180

112th CONGRESS
1st Session

H. R. 1180

To amend the Internal Revenue Code of 1986 to establish small business start-up savings accounts.

IN THE HOUSE OF REPRESENTATIVES

March 17, 2011

Mr. GARDNER (for himself, Mr. PAUL, Mr. PITTS, Mr. PEARCE, and Mr. COFFMAN of Colorado) 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 small business start-up savings accounts.

SECTION 1. SHORT TITLE.

SEC. 2. ESTABLISHMENT OF SMALL BUSINESS START-UP SAVINGS ACCOUNTS.

`SEC. 7529. SMALL BUSINESS START-UP SAVINGS ACCOUNTS.

`CHAPTER 50--SMALL BUSINESS START-UP SAVINGS ACCOUNTS

`SEC. 5000C. TAX ON EXCESS CONTRIBUTIONS TO SMALL BUSINESS START-UP SAVINGS ACCOUNTS.

`SEC. 5000D. TAX ON NONQUALIFIED DISTRIBUTIONS FROM SMALL BUSINESS START-UP SAVINGS ACCOUNTS.

`SEC. 5000E. CROSS REFERENCE.

`Chapter 50. Small Business Start-Up Savings Accounts'.

END