American Opportunity Act of 2011
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S 256 — American Opportunity Act of 2011
Last action — Read twice and referred to the Committee on Finance.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
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.
Bill Text
We don't have the full text on file for this bill yet.
Read S 256 on the official United States source →Action History
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Read twice and referred to the Committee on Finance.
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Sponsor introductory remarks on measure. (CR S483)
Sponsors
- Mark Pryor · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
- Mark Pryor Democrat
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does S 256 do?
- 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.
- Who sponsors S 256?
- S 256 is sponsored by Mark Pryor (Democrat).
- What is the current status of S 256?
- This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track S 256?
- Track S 256 free on One Click Politics — get push/email alerts when it moves.
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