Pipeline · Bill → Law
Step 1
Introduced
Jun 9, 2023
Step 2
Referred
Jun 9, 2023
Ways & Means
Step 3
Committee
Jun 13, 2023
Reported out
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill provides tax incentives for investment in small businesses. Among other provisions, the bill increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor, restores reporting requirements for third party network transactions, modifies the exclusion of gain from the sale of qualified small business stock, increases the ceiling for expensing of depreciable business assets, establishes rural opportunity zones, and reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.
Timeline · 6 actions
Jun 30, 2023
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-128.
Jun 30, 2023
Placed on the Union Calendar, Calendar No. 100.
Jun 13, 2023
Committee Consideration and Mark-up Session Held
Jun 13, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
Jun 9, 2023
Introduced in House
Jun 9, 2023
Referred to the House Committee on Ways and Means.